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Property Profile & Target Buyer

Key Characteristics & Appeal

This property is a study in contrasts. The home itself is old, with a below-average living area of 1,200 square feet and a correspondingly low assessed value of $120,000—placing it in the bottom 1% citywide for both metrics. However, it sits on an unusually spacious lot of 4,761 square feet. The land is significantly larger than most properties on Bill Briercliffe Drive, ranking in the top 50% on the street and top 28% in the Peguis area. The primary appeal is not the house, but the canvas. This is an entry-level price point for buyers who prioritize outdoor space over finished square footage. It suits a buyer willing to take on a renovation project, a downsizer looking for a manageable home with a big yard for gardening or hobbies, or an investor seeking land value in an established Winnipeg neighborhood. The core trade-off is clear: you give up modern interior finishings and living space, but you gain a rare, large lot that offers potential others in the same price bracket lack.

Frequently Asked Questions

1. Why is the assessed value so low compared to other homes in the area?
The low value is driven almost entirely by the home's small living area and likely its age. In this case, the house itself is the main drag on the assessment, while the large land parcel holds a disproportionate share of the total value. This is a common pattern for older homes on oversized lots.

2. Does the large lot mean I’ll have significantly higher property taxes?
Not necessarily. Because the total assessed value ($120,000) is low, your taxes will be relative to that base. While the land component is high for the street, the modest house keeps the overall assessment below average. You should confirm with a local realtor or assessor, but the tax burden is unlikely to reflect a premium property.

3. What are the practical limitations of the “below average” living area?
With 1,200 square feet, you’re looking at a functional floor plan but not much room for expansion without major renovation. Ceiling height, layout inefficiencies, and lack of storage are common in homes of this era. A walkthrough is essential to see if the space suits your actual needs for sleeping, dining, and living zones.

4. Is this property a good candidate for a knockdown and rebuild?
Given the lot size and low house value, it could be, but it depends on zoning and local development rules in the Peguis area. The land is ranked in the top 28% locally, not top 1%, so it’s a solid lot, not a trophy site. A feasibility check with the city would be smart before assuming a rebuild is straightforward.

5. How does the condition of the house affect the assessed value?
The assessed value of $120,000 likely reflects a dated or worn structure. It does not account for deferred maintenance like an old roof, furnace, or windows. While the price point is entry-level, be prepared for immediate repair costs beyond just cosmetic updates. The low value can work in your favor for negotiating, but it also signals limited move-in readiness.