This is a 1920s home with 1,424 square feet of living space on an 8,001-square-foot lot. Its assessed value is $341,000.
The property's standout feature is the lot. City-wide, it ranks in the top 11% for land size, offering a generous 8,001 square feet—well above the typical city average of 6,570 square feet. This is especially meaningful in a mature neighbourhood like Woodhaven, where larger lots are already common, so this one still holds its own, ranking in the top third on its own street.
The living area (1,424 sqft) and assessed value ($341K) sit close to the middle of the pack for the street and surrounding area. The home is older than most nearby (1920 vs. a neighbourhood average of 1953), which might appeal to buyers wanting a project or original character, but also means it’s below average for the area in terms of updated condition. The relatively modest assessed value relative to the neighbourhood average ($422K) could reflect that the home needs work or doesn't have recent renovations.
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How does the lot size actually compare to other properties in the area?
While the lot is large city-wide, it's only slightly above the Woodhaven neighbourhood average of 9,926 sqft. The real value is that you're getting a bigger parcel than most homes across Winnipeg, not necessarily more than your immediate neighbours.
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Does a lower assessed value mean the home is in bad shape?
Not necessarily, but it often reflects a lack of recent major upgrades. The assessment of $341K is below the street average of $385K and well below the neighbourhood average of $422K. This can mean either deferred maintenance or simply an older, less updated home. It's worth investigating the condition of the roof, windows, mechanicals, and foundation before making an offer.
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What are the implications of a 1920s build?
Homes from this era often have solid framing and interesting architectural details, but they may also have older electrical, plumbing, and insulation. The year-built rank (bottom 20% in the neighbourhood, bottom 13% city-wide) should signal that you'll likely need to budget for system updates and possibly hazardous materials testing (like lead paint or asbestos) if you plan to renovate.
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Is this property a good candidate for adding a secondary suite or subdividing?
The large lot (8,001 sqft) is promising, but zoning and lot frontage rules in Woodhaven will be the real deciding factors. A property this size could potentially accommodate a garage suite or a small infill home, but you need to check with the city before assuming anything. The fact that the home is older might also mean the existing structure isn't positioned ideally on the lot for a simple split.
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How does the interior compare to the land in terms of value?
The living area (1,424 sqft) is modest by current standards and ranks just slightly below average on its own street. The land is the main asset here. If you're focused on increasing the home's value through renovation, you have a good foundation in terms of location and lot, but the square footage is unlikely to compete with updated homes in the $400K+ range.