This is a 1944-built home with 1,229 sq. ft. of living space on a substantial 10,740 sq. ft. lot. Its main strength is the lot: the property ranks in the top 5% citywide for lot size, and in the top 26% within its Worthington neighbourhood. The living area itself is above average for both the street and the neighbourhood (top 24% and 26% respectively), though it sits right around the middle of the pack when compared citywide.
The appeal lies in the land, not the structure. The house is older than the neighbourhood average, and its assessed value of $267,000 is slightly below average for the street and neighbourhood, and well below the citywide average for comparable homes. This suggests the buyer is paying primarily for the location and the large lot rather than the house itself. It would suit someone looking to get into a mature neighbourhood with a spacious yard—perhaps a first-time buyer willing to take on some updates, or someone planning a future renovation or rebuild. It’s less likely to appeal to those wanting a move-in-ready, modern home in the current market.
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The assessed value is below the street and city average. Is the home overpriced?
The assessed value is a separate metric from market value. Being below average on assessment likely reflects the home’s older age and possibly unrenovated condition relative to its neighbours. Market price depends on demand, location, and the potential of the lot, which is clearly exceptional. You’d need to compare the asking price against recent sales in the area, not just the assessment.
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The house was built in 1944. What should I look out for?
Common concerns with homes of this era include aging electrical systems (often knob-and-tube), lead paint, foundation settling, and outdated plumbing. A thorough home inspection (including sewer scope and electrical panel review) is recommended. The positive side is that many 1940s homes were built with solid framing and good bones.
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What does "top 5% citywide for lot size" actually mean in practical terms?
It means the lot is significantly larger than the typical Winnipeg lot (average ~6,570 sq. ft.). At 10,740 sq. ft., you have room for a large garden, a workshop, a future garage, or even potential for a secondary suite—provided zoning allows. It also means more yard maintenance and higher property taxes relative to a smaller lot.
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How does the home compare to others in the Worthington neighbourhood?
The home is roughly average in age for Worthington, but slightly smaller than the average home in the area (1,082 sq. ft. vs. 1,229 sq. ft. here). Its lot is significantly larger than the neighbourhood average (7,831 sq. ft.). So you’re getting more land than most neighbours, in a home that’s on the older side but still representative of the area’s housing stock.
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Is this a good investment for a fix-and-flip or as a rental?
It could be, depending on purchase price. The large lot is the primary asset, and the below-average assessment leaves room for value-add through renovations. However, the home’s age means renovation costs may be higher than anticipated. For a rental, you’d need to check local rental demand and whether the current layout works for tenants. The location in Worthington—a well-established area—is a plus for long-term appreciation, but the property’s value is heavily tied to what you do with the land, not the house as it stands.