Property Overview

This home at 92 Woodlawn Avenue stands out for its generous proportions and significant lot size. Built in 1973, it offers over 2,000 square feet of living space, which is notably larger than most homes on its street and in Winnipeg overall. The most defining feature is the nearly 11,700 square foot lot, placing it in the top 4% of properties city-wide for land area. This creates substantial outdoor space that is rare for an urban setting. The home’s assessed value is significantly higher than neighbouring properties, indicating it is a substantial asset within its immediate area.

Its appeal lies in the combination of above-average interior space and an exceptionally large, private yard—a rarity that offers long-term potential. It would suit buyers looking for a property with room to grow, whether for a family, gardening, outdoor recreation, or future expansion. The data suggests it’s a premium property on its block, ideal for someone valuing space and privacy over a newer build, and who understands they are acquiring a standout lot in the neighbourhood.

Frequently Asked Questions

1. Why is the assessed value so much higher than the street average?
The assessed value reflects the property’s combined assets: a house that is larger than most on the street and, more significantly, a lot size that is among the largest in the area. This makes it a high-value asset compared to its direct neighbours.

2. What does the sold price history indicate?
The property last sold between 2020 for an estimated $600k-$650k, a price that placed it in the top 2% for its street at that time. This historical sale supports the current high assessment, showing it has consistently been a premium property.

3. Is a 1973-built home likely to need major updates?
While the build year is newer than many on its street, a home from 1973 will likely have had several systems updated over the decades. A key consideration would be the age of the roof, major appliances, windows, and mechanical systems like furnace and plumbing, which may be due for replacement or modernization.

4. How does the large lot impact maintenance and costs?
The nearly quarter-acre lot provides excellent privacy and space but also requires more time and expense to maintain (lawn care, landscaping, snow removal) than a standard city lot. It could also present opportunities like adding a garage, workshop, or garden that smaller lots cannot accommodate.

5. The data shows "comparable homes" in the city average a much higher assessed value. Why?
The city-wide "comparable" group for assessed value is based on similar valuation metrics, not similar homes or neighbourhoods. The much higher average value (~$390k) for that group likely includes properties in more expensive market areas. This highlights that 92 Woodlawn’s value is elite for its specific location, not necessarily that it’s undervalued compared to the entire city.