724 Haney Street

Property Overview & Key Characteristics

This property is defined by its exceptionally large, private lot of over 30,500 sqft—a rare find that places it in the top 1% of homes in both its neighborhood and all of Winnipeg for land size. The home itself is a modest, one-storey 988 sqft bungalow from 1957 with a finished basement and a detached garage. Its appeal lies almost entirely in the land: it offers immense potential for expansion, gardening, recreation, or simply enjoying unparalleled space and privacy within the city. While the house is dated and smaller than most in the area, the lot represents a long-term investment in space that is increasingly scarce.

This home would best suit a buyer with a vision, whether that's a family seeking room for children and pets to play, a hobbyist or gardener dreaming of a personal oasis, or an investor/builder who sees the ultimate value in the land itself for a future custom build or subdivision. It’s a property for those who prioritize land over immediate move-in luxury.

Frequently Asked Questions

1. What does the "top 1%" ranking for land size actually mean?
It means this property's lot is larger than 99% of other residential properties in both the Elmhurst neighborhood and the entire city of Winnipeg, highlighting its extraordinary scarcity and potential.

2. The house seems small and older. What are the major considerations?
Built in 1957, the home will likely require updates to mechanical systems, windows, and insulation. The value proposition is the land; the house may be viewed as a functional starting point with major renovation or eventual replacement as a possibility to fully capitalize on the lot.

3. Is the large lot usable, or are there restrictions?
With over 30,000 sqft, usability is high, but buyers must verify zoning bylaws with the city to understand exact boundaries, any easements, and regulations regarding potential additions, outbuildings, or future subdivision.

4. How does the assessed value relate to the asking price?
The city's assessed value is for taxation purposes and is often a conservative market estimate. The asking price will primarily reflect the premium for the rare, massive lot, which may not be fully captured in the standard assessment formula.

5. What are the less obvious costs or benefits of such a large lot?
Costs include higher property taxes based on land value, and significantly more time and expense for maintenance (lawn care, snow clearing). The benefit is a level of privacy, quiet, and creative freedom for land use that is nearly impossible to find in a city setting.