Property Overview & Key Characteristics

This one-and-a-half storey home, built in 1946, sits on a notably large lot of nearly 6,000 sqft in Winnipeg's Burrows-Keewatin neighbourhood. Its primary appeal lies in the land itself—the property ranks in the top 3% for lot size on its street and the top 9% within the local area, offering significant outdoor space and future potential that is increasingly rare. The 1,114 sqft living area is comfortably above average for the immediate vicinity. It features a detached garage and a basement that is present but not renovated. The home last sold in April 2021 for $240,000, a price point that was above average for the street but below the wider city average, reflecting its location.

This property would suit a practical buyer who values space over turn-key condition. It's ideal for someone with renovation plans, whether immediate or long-term, who sees the unrenovated basement as a blank canvas. The large lot could appeal to gardeners, families wanting play space, or investors considering future development, subject to zoning. It represents an entry point into homeownership with a tangible asset—the land—that outperforms many of its neighbours.

Frequently Asked Questions

1. What does "not renovated" for the basement imply?
It means the basement is unfinished or in its original state. Buyers should budget for potential moisture-proofing, insulation, framing, and flooring to create livable space, and should inspect it thoroughly for any issues common to homes of this era.

2. How does the large lot size impact value and upkeep?
While it offers privacy, expansion potential, and garden space, it also means higher costs for landscaping, fencing, and snow removal. The lot size is a key value driver here, often appreciating independently of the home itself.

3. The assessed value seems very low compared to the sale price. Why?
Municipal assessed value for tax purposes is often lower than market value and can lag behind recent sale prices. The 2021 sale price of $240k is the more relevant figure for understanding current market value.

4. What are the considerations with a home built in 1946?
While the structure has proven durable, prospective buyers should pay close attention to the age and condition of major systems: the roof, wiring, plumbing, and heating. An updated home inspection is highly recommended.

5. Is the above-average sale price for the street a concern?
Not necessarily. It likely reflects the premium for the exceptionally large lot. It does, however, set a benchmark for the property's value in the area, so comparing it to other homes on similar-sized lots is more meaningful than comparing it to all sales on the street.