Property Overview: 23 Shier Drive, River West Park, Winnipeg

Key Characteristics & Appeal

This home presents a compelling opportunity defined by its exceptional lot and strong positional value within Winnipeg’s desirable River West Park neighborhood. Its most standout feature is the expansive 23,303 sqft property, which ranks in the top 1% of lots both locally and city-wide. This offers rare potential for privacy, landscaping, expansion, or simply ample outdoor space. The house itself is a spacious 2,389 sqft, placing it well above neighborhood and city averages, and is complemented by an assessed value of $791k that sits in the elite tier city-wide.

The appeal lies in securing a property that outperforms most benchmarks. While the home, built in 1977, is typical for its street, its size, lot, and valuation signal a premium holding in an established area. It suits buyers looking for a long-term family home with room to grow outdoors, or those who value land as a primary asset. It’s particularly suited for someone willing to potentially update an older home to modern standards in exchange for an irreplaceably large lot in a prime location.

Frequently Asked Questions

1. How does this home truly compare to others on the street?
While its living area is close to the street average, its assessed value is significantly higher (ranked 12th vs. 46th for area) and its lot size is exceptional (ranked 2nd). This suggests it is viewed as a premium property on the block, likely due to the land and possibly its condition or positioning.

2. The home sold in late 2019. What might explain the increase to its current assessed value?
The sold price was between $650k-$700k, placing it in the top 9% for the area at that time. The current assessed value of $791k reflects market-wide appreciation over five years, and specifically acknowledges the premium value of its large lot, which may have become an even more sought-after feature.

3. What should I consider about a home of this age (1977)?
Built in 1977, the home is newer than most in Winnipeg but is nearing 50 years old. Prospective buyers should prioritize inspections of major systems like roofing, plumbing, electrical, and heating, which may be original or nearing the end of their service life, even if functional.

4. Is the high assessed value a benefit or a drawback?
It’s a double-edged sword. It confirms the property’s premium status and investment in a strong area, which supports resale value. However, it also typically translates to higher property taxes, so the ongoing carrying cost should be factored into the budget.

5. The lot is huge. Are there any restrictions on what I can do with it?
This is a key question. While the space offers great potential, any plans for additions, pools, secondary suites, or outbuildings will be subject to local zoning bylaws, setback requirements, and permitting. Checking with the city planning department early is essential.