Property Overview & Key Characteristics

This property at 313 Numeracy Lane in Winnipeg's Leila North neighbourhood presents a unique profile defined by its data. Its most striking characteristic is its exceptionally low municipal assessed value of $12,700, which ranks it at the very bottom compared to both the neighbourhood and the entire city. The land size is also notably small at 2,750 sq ft, well below area averages. While specific details like year built and living area are not provided, the data suggests this is a highly atypical listing.

The appeal here is fundamentally for value-seeking buyers or investors with a specific vision. It suits someone looking for the most affordable possible entry point into the Winnipeg market, a lot for potential redevelopment (subject to zoning), or an investor comfortable with a project. The low tax assessment based on value is a clear financial advantage. It’s less suited for buyers seeking a move-in ready home or a standard family property, as the data implies a significant divergence from the norm.

Frequently Asked Questions

1. Why is the assessed value so low compared to nearby homes?
Extremely low assessments typically reflect a property condition that is not suitable for standard habitation, such as a derelict structure, or a unique legal or zoning status. It is essential to investigate the physical state and municipal file for this specific lot.

2. Does the low assessed value mean the property taxes are negligible?
While property taxes are calculated using the assessed value, the total tax bill also depends on the municipal mill rate. The taxes will likely be very low, but not necessarily zero.

3. What can actually be done with this property?
This depends entirely on its current zoning and the condition of any existing structure. Possibilities could range from a complete rebuild, holding the land as a long-term investment, or potentially using it for auxiliary purposes like storage. Due diligence with the city’s planning department is the critical first step.

4. Are there hidden liabilities or costs?
Very likely. There may be outstanding municipal orders, environmental issues, or the cost of demolishing an existing structure. A buyer must budget for these potential liabilities beyond the purchase price.

5. How does the sale price relate to this assessed value?
Municipal assessed value is for taxation purposes and is not an appraisal of market value. However, such a drastic assessment usually indicates the market value will also be very low, likely based on the land value alone, minus any costs to make the lot usable.