541 Harstone Road

Property Overview: 541 Harstone Road

Key Characteristics & Appeal

This is a distinctive, one-storey home built in 1930, sitting on an exceptionally large, mature lot of over 25,600 square feet—a rare find within the city. Its appeal lies in this generous, private outdoor space, offering immense potential for gardening, recreation, or future expansion. The home itself features 1,160 sqft of living space with a finished basement and a detached garage.

The property presents a compelling value proposition for specific buyers. It would perfectly suit a hands-on buyer or a family seeking a large yard above all else, who appreciates character and is prepared to modernize a home over time. It's also an ideal candidate for a long-term hold, where the land itself is a primary asset. The rankings highlight its unique position: while the home's age and size are modest relative to the area, the lot size is in the top 1% for Winnipeg, and the assessed value is competitive. This suggests you are investing significantly in the land, with a livable house included.

Frequently Asked Questions

1. What does the lot size ranking actually mean?
The property's lot is larger than 99% of all residential lots in Winnipeg, placing it in the top 1%. This is its most standout feature, offering unparalleled space and privacy for an in-city property.

2. The home was built in 1930. What should I be prepared for?
While the basement is finished, a home of this age will likely have original or older building systems (like plumbing, electrical, and insulation). A thorough inspection is essential to understand the scope of any needed updates or maintenance.

3. How does the assessed value compare to the likely listing price?
The municipal assessment is $414,000, which is higher than 68% of Winnipeg homes. In practice, the market value for a property with such a rare lot size may differ, so recent comparable sales in the area will be a key reference point.

4. Is the large lot a benefit for future development?
The potential is significant, but subject to City of Winnipeg zoning bylaws. The lot could be suitable for additions, a garage/workshop, or even subdivision (with approval). Any development plans would require due diligence with the city's planning department.

5. Who would this property not suit?
It may not be the best fit for buyers seeking a modern, move-in-ready home without any projects, or for those who prefer a low-maintenance yard. The appeal here is centered on the land and the long-term potential it offers.