Property Summary: Irving Place, Winnipeg

Key Characteristics & Buyer Profile

This is a home defined by a clear trade-off: a modest interior footprint paired with an exceptionally large lot. The living area is 988 square feet, which ranks in the bottom quarter citywide and well below the average for homes on the same street (1,545 sq ft) and in the broader Kildonan Drive area (1,364 sq ft). The land, however, is the standout feature. At 11,979 square feet, the lot sits in the top 4% of Winnipeg properties, the top 8% locally, and the top 22% on Irving Place itself.

Built in 1953, the home is near the median age for its area. Its assessed value of $396,000 is slightly below the Irving Place average ($425,000) but above the averages for both the Kildonan Drive area ($386,500) and the city ($390,100). This suggests the value is less driven by the house itself and more by the land beneath it.

The appeal lies in the space outside the house. This property suits buyers who prioritize outdoor potential—a large garden, room for a workshop or garage, space for kids or pets, or future expansion—over a large, finished interior. It would appeal to those who see value in land and are willing to work with a smaller or older home to get it. It is less suited for buyers wanting a move-in-ready, spacious floor plan or those who equate square footage with value. Given the above-average valuation despite below-average living space, the price reflects the land's premium, not the home's size.

Five Possible FAQs

1. The living area is below average for the street. Is the house itself dated or in poor condition?
Not necessarily. The data shows the home is 988 square feet, which is smaller than many newer or expanded homes on Irving Place. The 1953 construction date is common for the area. A smaller footprint doesn't indicate poor condition—it simply means the home is compact. An inspection would be needed to assess its actual state.

2. If the house is small, why is its assessed value above the neighborhood average?
The assessed value reflects both the structure and the land. In this case, the 11,979-square-foot lot is a major asset. It ranks in the top tier citywide, which adds significant value. The market sees the land as the primary draw, not the living space.

3. Does the large lot limit my options for financing or insurance?
Typically, a large lot on a standard residential street does not cause financing issues. However, because the land value is high relative to the building value, some lenders may require a slightly higher down payment. Insurers may ask about lot features (e.g., trees, fence type, distance to neighboring structures), but this is standard for any larger property.

4. Would this property be a good candidate for renovation or an addition?
Possibly, but zoning and setback rules would determine that. The lot is large enough to accommodate an addition, but you would need to check with the City of Winnipeg on allowable floor area ratios, side-yard setbacks, and any heritage or neighborhood restrictions. The 1953 foundation and layout may also require structural updates. A contractor familiar with infill in Kildonan Drive could give a realistic assessment.

5. The house ranks average for its age, but bottom-tier for living area. Is this a "teardown" property?
That depends on your goals. Many buyers in Winnipeg purchase older homes on large lots with the intention of renovating rather than demolishing. The home is from 1953, a vintage common in this area, and may be structurally sound. A teardown would be an option if you wanted to build new, but it is not the assumed next step. The assessed value suggests the current home is contributing to the property's worth, not detracting from it.