Property Summary: 2398 Portage Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This property is defined by its exceptional scale and established presence. Sitting on a massive 36,000 sqft lot, it ranks in the top 1% for land size within both its Birchwood neighbourhood and the entire city of Winnipeg. The living space of 2,878 sqft is equally impressive, placing it among the very largest homes on its street. Built in 1964, the two-storey home features an attached garage and an unrenovated basement, presenting a classic layout with clear potential for updates.

The primary appeal lies in its rarity: it offers a truly substantial parcel of land in an established urban area. This isn't just a large yard; it's a canvas for gardening, recreation, or future expansion. The home itself provides generous interior space for a growing or multi-generational family. It would best suit a buyer who values space and privacy above modern finishes—someone with the vision to personalize the interior over time or who simply needs the room and isn't concerned with a move-in-ready renovation. The very low assessed value, while not a market price, suggests a property that may offer significant value for the square footage and land, appealing to strategic buyers or those looking for a long-term family home with room to grow.

Section 2: Frequently Asked Questions

1. What does "unrenovated basement" typically mean for a home of this era?
It generally indicates the basement is in original or largely untouched condition. Expect older finishes, possibly paneling or basic concrete floors, and mechanical systems (like the furnace or wiring) that are functional but may be nearing the end of their service life. It represents both a project and an opportunity to customize from a blank slate.

2. The assessed value seems low for such a large property. Why is that?
Municipal assessed value for taxation purposes is not the same as market value. It is often based on historical formulas and mass appraisal techniques. A significant discrepancy can sometimes indicate that the property has not been substantially updated, which is reflected in the assessment, but the market may place a much higher value on the irreplaceable land size and living space.

3. Who is responsible for maintaining such a large lot?
The homeowner is responsible for all maintenance, including landscaping, snow removal on driveways/walkways, and any trees. The scale of the lot means these tasks require considerable time, equipment, or the budget to hire services.

4. Are there any restrictions on what can be done with the land?
This would require a check with the local zoning bylaws. A lot of this size in an established neighbourhood may have specific rules regarding subdividing, building additional structures (like a large garage or garden suite), or boundary setbacks that differ from standard lots.

5. What are the trade-offs of a home built in the 1960s?
You gain solid construction, straightforward floor plans, and generous room sizes. Potential trade-offs include older windows and insulation leading to higher utility costs, the eventual need to update plumbing and electrical systems to modern standards, and layouts that may feel compartmentalized compared to today's open-concept designs.