Property Overview: 1121 Lee Boulevard, Winnipeg

Key Characteristics & Appeal

This one-storey home in Fairfield Park is defined by a compelling contrast. While the 1,246 sqft living space is modest compared to immediate neighbors, it sits on an exceptionally large, elite-sized lot of nearly 12,000 sqft—ranking in the top 4% citywide. The home itself is a 1975 bungalow with a renovated basement and an attached garage. Its assessed value is notably above the Winnipeg average but is among the more accessible price points within its own desirable neighborhood and street.

The primary appeal lies in its land potential. The vast lot offers rare space for expansion, gardening, or outdoor recreation in a city context, presenting a clear value-add opportunity for the right buyer. It suits a practical homeowner or investor who sees beyond the current footprint. This could be a perfect match for someone wanting to put their own stamp on a property, whether through renovations, an addition, or simply enjoying expansive private outdoor space without leaving the city. It’s a property where the land is the standout asset, offering future flexibility that newer subdivisions often cannot.

Frequently Asked Questions

1. Is the house small for the neighborhood?
Yes, in terms of living area. The home is below the average size for both Lee Boulevard and Fairfield Park, but it is close to the average size for the entire city. The trade-off is the significantly larger lot.

2. What does the "Elite" ranking for land area mean?
It means this property’s lot size is in the top 3-4% when compared to similar homes in Fairfield Park and across Winnipeg. It is a substantially larger parcel than most, which is a key feature.

3. The assessed value seems low compared to the sale price from 2021. Why?
The assessed value for taxation purposes ($43.80k) is often significantly lower than market value. The 2021 sale price of $49.50k is a better, though dated, indicator of its market value at that time. Current market conditions would determine today’s price.

4. Who would this property not suit?
It may not suit buyers seeking a large, move-in-ready home without renovation plans. The living space is compact, and the age of the home (built 1975) means systems may need attention. It’s best for those comfortable with a project or who prioritize land over square footage.

5. Is the renovated basement a full suite?
The listing notes a renovated basement but does not specify if it is a legal suite with separate entrance/kitchen. This would be a key point to clarify with the listing agent for potential rental income or in-law arrangements.