Property Overview & Appeal

This property at 186 Numeracy Lane in Winnipeg's Leila North neighbourhood presents a unique opportunity centred on land value and future potential. Its key characteristic is a sizable 3,482 sqft lot, which ranks in the top tier for size both on its street and within the wider neighbourhood. With a very low assessed value, this suggests a property that may be a teardown, a vacant lot, or a home in need of significant renovation.

The primary appeal lies in its value as a blank canvas. The lot size offers room for expansion, a new build, or landscaping that wouldn't be possible on a smaller parcel. It suits buyers looking for a strategic entry into the neighbourhood, such as builders, investors, or homeowners with a vision to construct their own home. It's also a potential fit for those seeking a long-term hold, banking on the underlying land appreciating in value over time. A less obvious perspective is that a low-assessment property like this can sometimes offer relative predictability in annual property taxes, which is a consideration for long-term budgeting.

Frequently Asked Questions

1. What does the very low assessed value indicate?
It typically indicates that the existing structures contribute minimal value, pointing to a probable teardown, a vacant lot, or a home requiring complete reconstruction.

2. Is the lot size the main selling feature here?
Yes. The data shows the lot is larger than 91% of properties in Leila North, making the land itself the primary asset and source of future potential.

3. What should I research before considering this property?
Essential next steps include verifying the exact zoning bylaws with the city to understand what can be built, checking for any development restrictions or easements, and confirming the cost of utilities if they are not currently connected.

4. How does it compare to nearby homes?
Nearby properties on Numeracy Lane have similarly low assessed values, suggesting this is a pattern for the immediate area. This could represent a street in transition or with uniform older housing stock.

5. Why are some comparable properties listed in different neighbourhoods?
The "similar assessed value" list is based purely on matching the dollar value of the assessment, not on location or lot size. These are likely similar types of properties (e.g., condos, small lots) in other parts of the city, highlighting how uniquely large this lot is for its assessment tier.