Property Overview

This 1930s two-storey home in Ridgedale presents a distinctive opportunity centered on its exceptional land. Sitting on over 18,500 sqft—a lot size that places it in the top 2% of all properties in Winnipeg—the appeal here is fundamentally about space and potential. The 1,535 sqft house itself, with its unfinished basement and split garage, offers a functional footprint but is likely seen by most buyers as a canvas for future updates or expansion. Its key characteristics are a study in contrasts: while the living space is modest relative to the lot and ranks average for the city, the property's assessed value is notably strong, suggesting the land itself is a significant driver. The home's age and original condition will appeal to those looking for a project, whether that's a careful restoration or a strategic renovation to modernize the interior while leveraging the unparalleled outdoor space.

Its prime appeal lies in the rare chance to secure a massive, private lot in a well-established neighborhood. It suits a specific type of buyer: the long-term visionary who values outdoor space for gardens, recreation, or future additions more than immediate move-in perfection. It would also suit an investor or builder who recognizes the underlying value of the land itself. A less obvious perspective is that this property offers a form of "breathing room" increasingly scarce in urban areas, providing privacy and a sense of retreat that is difficult to quantify but highly valued.

Frequently Asked Questions

1. What does the lot size actually allow for?
With approximately 0.43 acres, the property offers extensive possibilities beyond a standard yard, such as significant landscaping, adding a detached workshop or studio (subject to bylaws), or creating expansive recreational areas. The size provides notable privacy and distance from neighbors.

2. Given the home's age, what should I budget for immediate updates?
While systems may be functional, a home from 1930 will likely require updates to plumbing, electrical, and insulation to meet modern standards and efficiency. Budgeting for these behind-the-walls essentials, alongside any cosmetic renovations, is crucial.

3. How does the unfinished basement impact living space and value?
It currently provides ample storage and mechanical space but does not contribute to the formal living area. Finishing it would significantly increase the home's usable square footage, representing a key opportunity to add value tailored to your needs.

4. The rankings show the house is older than most in the area. Is that a concern?
It indicates the neighborhood has seen significant renewal. While the home itself may be dated, it sits on a premium lot in a desirable community. The age is a factor for renovation planning but is offset by the enduring value of the location and land.

5. Why is the assessed value relatively high compared to the home's size and condition?
The assessment reflects the combined value of the structure and the land. In this case, the exceptionally large lot size in a prime area is a major contributor, indicating that the property's value is heavily anchored in its land rather than its current improvements.