Property Summary

Key Characteristics & Buyer Profile

This property offers a living area assessed at $107,000, which places it in the bottom 1% of homes on its street (Zimmerman Drive), in the Ridgewood South area, and across Winnipeg. In other words, the dwelling itself is significantly smaller or lower in assessed value than nearly every other property nearby. The land, however, tells a different story: the lot size is 5,331 square feet, placing it in the top 10% on the same street and the top 47% citywide. The home was also built in a more recent year than many of its neighbours.

Its appeal lies in the imbalance between the modest, lower-value house and the generous, above-average lot. For a buyer, this is a gap to work with—either the current home is already livable at a low entry point, or the land represents the real asset. This property would likely suit someone willing to renovate, rebuild, or hold for land value appreciation. It is less suited to someone wanting a move-in-ready home in a mid- or high-value bracket, as the living area is an outlier relative to the neighbourhood.

Frequently Asked Questions

1. Why is the assessed value so low compared to other homes on the same street?
   Assessed value reflects the structure's size, condition, and features relative to the market. This home’s living area is well below the median for Zimmerman Drive, and assessed value correlates closely with square footage. The land value is separate and is not included in that $107k figure.

2. Does a low assessed value mean the property is in bad shape?
   Not necessarily. Low assessed value can result from a smaller footprint, an older floor plan, or unfinished space—not always from disrepair. A home inspection is needed to distinguish between deferred maintenance and simply being a small house that was never updated.

3. Is the lot actually buildable for a new house?
   Likely yes, but zoning, setback requirements, and servicing (water, sewer, power) would need to be confirmed with the city. A 5,331 sqft lot is generous for a single-family home in Winnipeg, but a buyer should verify whether the current structure’s footprint allows for demolition or major expansion without variances.

4. How does this property compare to others in Ridgewood South?
   It is an extreme outlier. Area averages for living area and assessed value are much higher. The lot, however, is around the median for the neighbourhood—so you are buying land that is typical for the area, with a house that is unusually small and low-valued.

5. What should I look out for before making an offer?
   Beyond a standard inspection, check the foundation age and condition, as older smaller homes may have had less maintenance. Also review recent sales of vacant lots in Ridgewood South to get a sense of whether the land alone is priced competitively. Finally, consider future development plans nearby—this property’s value depends heavily on what you can do with the lot, not just the current house.