Property Overview: 106 Paulley Drive, Winnipeg

Key Characteristics & Appeal

This one-storey home in Kildare-Redonda presents a straightforward, value-oriented opportunity. Its primary appeal lies in a significant and rare asset: the land. With a lot size of over 6,100 sqft, it ranks in the top 2% on its street and the top 12% in the neighbourhood, offering substantial outdoor space uncommon for homes in this price range. The house itself, built in 1971, is newer than most on the block and is a modest 833 sqft with an unfinished basement, representing a classic "fixer-upper" or blank canvas scenario.

Its recent sale history shows a notable increase in value over a short period, suggesting strong underlying demand for the location or lot potential. This property would best suit a hands-on buyer looking for a land-value play—perhaps someone planning a future expansion, a garden suite, or a patient renovation. It’s also a practical entry point into homeownership for a budget-conscious buyer willing to invest sweat equity, or an investor seeing long-term value in a large lot in a stable area.

Frequently Asked Questions

1. Is the price reflective of a "tear-down" property?
Not necessarily. While the assessed value is relatively low and the living space is modest, the home is structurally sound and newer than many neighbours. The price primarily reflects the value of the large lot combined with a house that needs modernization.

2. What does the unfinished basement mean for potential living space?
The basement offers additional raw space that can be finished to add square footage, but it requires a full renovation. This is a key cost to factor in for buyers needing more room, but also represents potential value growth.

3. How does the lot size compare to a typical city lot?
It’s substantially larger than average for both the street and the wider neighbourhood. This is the property's standout feature, providing privacy, yard space, and future development options that are increasingly hard to find.

4. The sold price increased significantly between 2022 and 2024. Does that mean it's overpriced now?
The increase indicates a strong market perception of the property's underlying value, likely tied to its lot size and location. It suggests the market is recognizing attributes that may not be fully captured by the basic house specs alone.

5. What are the immediate priorities for maintenance or renovation?
Given the age, a buyer should budget for updates to major systems (roof, heating, electrical) typical of a home from the 1970s. The cosmetic interior and the potential to finish the basement are secondary projects that depend on the buyer's budget and timeline.