Property Summary: 52K Private Davy Drive, Peguis / Winnipeg

Key Characteristics & Buyer Profile

This property offers an unusually large land area of 5,250 square feet, which ranks in the top 13% on its street and top 22% citywide. The land is clearly the standout asset here. The living area, however, is assessed well below average—around the 50th percentile at worst, but more notably, it sits in the bottom 1% for assessed value compared to other homes on the same street, in the same area, and across Winnipeg. This suggests a modest or smaller home on a generous lot.

The appeal lies in the land-to-structure ratio. Buyers who value outdoor space, gardening, workshops, or future expansion potential will find this compelling. It could also be attractive to someone looking for a lower entry price point in a city where land is scarce, with the understanding that the home itself may need updating or is intentionally compact. This is not a polished, turnkey property for someone seeking maximum living space. It suits buyers who prioritize lot size over square footage—perhaps a first-time buyer willing to invest sweat equity, a downsizer wanting room for hobbies, or an investor eyeing the land's potential. The location within Peguis and its citywide rankings also suggest this is not a premium neighborhood for housing values, but the land offers a rare commodity in an urban context.

Frequently Asked Questions

1. Why is the assessed value so low compared to the land size?
Assessed value is based on the home's condition, size, and features, not just the lot. In this case, a large lot with a small or older structure results in a low total assessment. The land is valuable, but the building contributes little to the overall figure.

2. Does a bottom 1% ranking mean the property is in bad shape?
Not necessarily—it means the assessed value is very low relative to other properties. This could reflect a small home, an older structure, or one that hasn't been updated. It does not automatically indicate disrepair, but a buyer should verify the home's condition during inspection.

3. Can I build an addition or a second dwelling on this lot?
Potentially, but it depends on local zoning bylaws in Peguis and Winnipeg. A 5,250 sqft lot is generous, but you would need to check setback requirements, density limits, and any easements. A title search and call to the municipal planning department are recommended before assuming anything.

4. How does this compare to other homes on Private Davy Drive?
The street shows a wide gap: the land ranks in the top 13%, but the living area and assessed value rank in the bottom 1%. This suggests many neighboring homes have either larger structures or higher-value finishes, making this property an outlier on the street.

5. Is this a good investment for rental income?
If the home is livable, the low purchase price could yield a reasonable cash-on-cash return. But the low assessed value may limit financing options and resale appeal. The land itself holds long-term appreciation potential, but rental income would depend entirely on the home's condition and local rental demand.