Property Overview & Key Characteristics

This vacant land parcel at 388 Private Davy Drive in Winnipeg's Peguis neighbourhood presents a straightforward opportunity. The lot is just under 3,800 square feet and ranks in the top 13% for size on its street, offering a good amount of space for a new build. Its most defining characteristic is its extremely low municipal assessed value of $4,700, which is an outlier not only on the street but across the entire city.

The appeal here is clear: it is a very low-cost entry point into the Winnipeg market. The lot would suit a buyer with specific plans to build, potentially as a long-term investment or for a future custom home. It could also appeal to an adjacent homeowner looking to secure the land for extra privacy or to prevent future development next door. A less obvious perspective is that this price point allows for a patient approach; holding the land while finalizing plans or awaiting further neighbourhood development involves minimal carrying cost compared to a developed property.

Frequently Asked Questions

1. Why is the assessed value so low?
Extremely low assessments like this are typically for vacant land without municipal services (like water and sewer connections) in place. The value reflects the land in its current, undeveloped state.

2. What would the total cost be to build here?
Beyond the land purchase, you must budget for bringing municipal services to the lot, construction costs, permit fees, and landscaping. The low land cost is just the starting point of the total investment.

3. Are there any restrictions on what can be built?
You would need to consult with the City of Winnipeg's planning department to understand the specific zoning (which is not listed here) and any associated bylaws governing building size, style, setbacks, and use.

4. How does the "ranking" data work?
The rankings compare this property to others. For example, its land area is larger than 87% of lots on its street, but its assessed value is 104% of the street's average (meaning it's actually valued higher than the street's typical assessment, despite the low absolute number).

5. Is the land buildable as-is?
A crucial first step is to conduct due diligence, including a soil test and a survey, to confirm there are no hidden issues like poor drainage, environmental concerns, or unusual lot shapes that would complicate construction.