Property Overview

This property at 1116 Clarence Avenue in Winnipeg's Maybank neighbourhood presents a unique profile defined by its land value and development potential. Its appeal is largely rooted in its lot size and positioning within a mature community, rather than the existing structure.

Key Characteristics & Buyer Profile

The standout feature is the 3,183 sqft lot, which ranks in the top 14% on its street for size, offering more space than many surrounding properties. However, the home itself appears to be an older, more modest structure, as indicated by its notably low assessed value of $18,400—the lowest on the street. This significant disparity between land value and improvement value suggests the primary worth lies in the land itself.

The appeal here is likely for value-driven buyers or investors. It would suit a hands-on buyer looking for a tear-down or extensive renovation project to build equity, or an investor seeking a land-hold opportunity in a stable, established neighbourhood. Its low tax assessment based on current value could also be a point of interest. A less obvious perspective is its potential for someone prioritizing yard space and location over move-in-ready condition, viewing the existing structure as temporary or incidental.

Frequently Asked Questions

1. Why is the assessed value so much lower than other homes on the street?
The assessed value is typically based on the current state and market value of the property. A value this low compared to neighbours usually indicates a very modest, older home that contributes minimal value, with the land representing the bulk of the assessment.

2. What does the ranking data for "Year Built" and "Living Area" mean?
The data shows this property ranks in the top 1% on its street for both newest year built and largest living area. This is a statistical anomaly that often occurs when a home is so new or so different from its neighbours that it has no direct comparables in the immediate dataset, or it may indicate a data entry or classification variance for this specific listing.

3. Is this a good option for a first-time buyer?
It could be, but with important caveats. The low entry price is attractive, but a buyer must be prepared for likely significant maintenance, renovation costs, or be comfortable with a very basic living situation. Financing can also be more challenging for properties in this condition.

4. What is the neighbourhood like?
Maybank is a mature, established neighbourhood in Winnipeg. The listing shows nearby homes with a wide range of ages and values, suggesting an area with a mix of original homes and newer infill development, which is common in many city neighbourhoods.

5. Are the "People also viewed" homes good comparisons?
Not directly. Those listings show a range of homes in Maybank and nearby areas with varying sizes and values. They are useful for getting a general sense of the local market, but their assessed values are all significantly higher, underscoring how distinct 1116 Clarence Avenue's valuation is within its own area.