Section 1: Key Characteristics and Buyer Profile

This is a high-value property in a unique position within the Winnipeg market. Its most striking feature is its exceptionally low assessed value—in the bottom 1% citywide, within its area (Peguis), and on its street (Private Davy Drive). That translates to a much lower property tax burden compared to nearby homes. The living area is rated in the bottom 50% citywide, meaning it’s a compact footprint, but the lot itself is larger than average for the neighbourhood (sitting in the top quarter locally and top third area-wide). The home is likely older, given its rank for year built.

The appeal here is pragmatic: you’re buying land and location, not square footage or a new build. For a buyer who values a generous lot in a specific area but doesn’t need a large house—and wants to keep ongoing costs low thanks to a modest assessment—this could be a smart, understated pick. It would suit someone planning a renovation or rebuild, a downsizer prioritizing yard space over interior size, or an investor looking for a lower-entry point in an area where average values are significantly higher ($390k citywide, $488k area). The disconnect between the small house and the larger lot is the asset.

Section 2: Five Possible FAQs

1. Why is the assessed value so low compared to other homes on the same street?
The assessed value reflects the city’s estimate of the current market value of the property as a whole—land plus improvements. If the house itself is small, older, or in a condition that hasn’t kept pace with newer builds or renovations on the street, that drags the total assessment down. You’re essentially paying taxes on a lower overall valuation than your neighbours, even though your lot size is competitive.

2. Does a bottom 1% citywide ranking mean the property is in a bad condition?
Not necessarily. The ranking simply shows where its assessed value stands among all 194,000+ properties in Winnipeg. It’s a statistical outlier, but that can happen with smaller homes on desirable lots in otherwise more expensive areas. Condition is separate from assessed value. A home inspection would give you the real picture, but the low assessment is primarily a function of size and age, not a direct measure of disrepair.

3. If the house is older and small, is this better suited for a tear-down?
Possibly, but it depends on your goals and the local zoning. The large lot is the primary asset, and the low assessed value keeps the entry price down, which can make a rebuild financially viable. However, you should check with the City of Winnipeg and the Peguis area for any development restrictions, setback requirements, or heritage considerations before assuming you can simply demolish. It’s also worth comparing the cost of a full rebuild to a renovation that retains the existing footprint.

4. How does the lot size compare to truly average Winnipeg properties?
The data shows the lot is in the bottom 23% citywide for size, but it’s actually above average for the immediate area. Citywide “average” includes many newer suburbs with larger standard lots. Within Peguis and Private Davy Drive, this lot ranks better (bottom 34% area-wide, bottom 26% on the street). So it’s not a huge yard by city standards, but it’s generously sized relative to its neighbours.

5. What kind of monthly or annual tax bill should I expect?
Property tax in Winnipeg is based on the assessed value multiplied by the current mill rate. Since this property’s assessed value is in the bottom 1% of the city, your tax bill will be significantly lower than average for Winnipeg, and substantially lower than most homes on the same street or in the same area. For a precise number, check the current mill rate and multiply it by the assessed value listed on the property detail page or via the city’s online property tax tool. Keep in mind that taxes can change annually based on mill rate adjustments and reassessments.