5119 Rannock Avenue

Property Summary: 5119 Rannock Avenue, Winnipeg

Key Characteristics & Appeal

This is a classic, fully bungalow on an exceptionally large, mature lot in the established Roblin Park neighborhood. Its primary appeal lies in the rare combination of a nearly half-acre property (19,178 sqft) within the city, offering immense outdoor potential, paired with a modestly sized, single-level home that has a finished basement. The home itself is a straightforward 792 sqft dwelling from 1946, presenting a clear opportunity for updates or a future expansion to match the grandeur of the lot.

The property suits two distinct types of buyers. First, it’s ideal for a hands-on buyer or builder who values land over a large existing structure, seeing the lot as a long-term asset with potential for renovation, a significant addition, or even future redevelopment. Second, it fits downsizers or those seeking single-level living who prioritize massive private outdoor space—for gardens, recreation, or quiet—over a large interior footprint. A thoughtful perspective is that while the home ranks low for size and age in its area, the land ranks in the top tier city-wide, suggesting the true value is in the dirt, not the current structure.

Frequently Asked Questions

1. What does the ranking data actually mean?
The rankings compare this property to others on its street, in Roblin Park, and across all of Winnipeg. Key takeaways: its lot size is in the top 2% city-wide, but the home itself is smaller and older than most in its immediate area. This highlights the property's unique profile.

2. Is the house in original condition?
Given its 1946 build date, it is very likely that core systems (plumbing, electrical, roof) are not original but may be of varying ages. The "finished basement" indicates some updates have been made, but a thorough inspection is crucial to understand the condition and scope of any modernization needed.

3. What can be done with such a large lot?
Beyond extensive gardening and private outdoor living, the lot size opens possibilities not available on standard parcels. This could include adding a large garage/workshop, creating a suite (subject to zoning), or significantly expanding the existing bungalow. The value is in the potential.

4. Who would this property not suit?
It is not a match for buyers seeking a move-in-ready, modern home with ample interior space or those unwilling to consider future renovation projects. The appeal is rooted in the lot's potential, not the current home's size or condition relative to the neighborhood.

5. How should the assessment value be interpreted?
The municipal assessment of $358,000 is for tax purposes and reflects a mass appraisal formula. It is a historical snapshot, not a market valuation. The market price will be strongly influenced by the high value of the land, balanced against the investment required for the existing home.