4289 Ridgewood Avenue

Property Overview

This 1938-built, one-storey home on Ridgewood Avenue presents a unique proposition centered on space and potential. Its primary appeal lies in the exceptionally large, 24,067 sqft lot, which places it in the top 1% of all properties in Winnipeg for land size. The 2,220 sqft living area is also well above average, offering ample room. The home features a finished basement and sits in the Eric Coy neighborhood.

The property would best suit a specific type of buyer: those with a vision for outdoor living, gardening, or future expansion, who are comfortable with a home that requires updates. Its value is rooted in its generous proportions and the rare opportunity to own a sizable parcel of land within the city, appealing to long-term planners, multi-generational families, or hobbyists who prioritize space over a modern, turn-key condition. A thoughtful perspective is that this isn't just a house but a substantial piece of land that happens to include a home, offering privacy and possibilities that are increasingly scarce.

Key Considerations & FAQs

1. What is the true draw of this property?
   The overwhelming advantage is the land. The lot is exceptionally large, offering immense potential for gardens, recreation, adding an addition, or even future subdivision (subject to city approval). The above-average living space is a secondary benefit.

2. What should I expect with an 88-year-old home?
   Buyers should budget for updates and maintenance consistent with the era. While systems may be functional, the age suggests that roofing, plumbing, electrical, and insulation likely require evaluation and potential modernization to improve efficiency and comfort.

3. Is the finished basement a full living space?
   The listing notes a finished basement, but specifics on ceiling height, layout, moisture control, and legal egress are not provided. A professional inspection is crucial to determine its true condition and suitability as living space.

4. How does the assessment value relate to the asking price?
   The city's assessed value for tax purposes is $462,000. It's common for the market price to differ from this assessment. Understanding recent sales of comparable properties with large lots in the area will provide a clearer picture of its market value.

5. What are the implications of having no garage?
   The lack of a garage means parking and storage will require alternative solutions. This could be an opportunity to build a new garage or workshop tailored to your needs, but it represents an additional project and cost to consider in your plans.