Property Overview: 1024 Balgona Road, Winnipeg

Key Characteristics & Appeal

This home at 1024 Balgona Road presents a distinct value proposition centered on its exceptional lot size. With over 218,000 square feet (approximately 5 acres) of land, the property ranks in the top 4% of its neighborhood and the top 1% city-wide for lot size. This is its most standout feature, offering rare space and privacy for the area. The house itself, built in 1977, is modest in scale at 1,266 sqft, placing it below the neighborhood average but close to the city-wide average for living space. Its assessed value of $408k is below average for its immediate street and neighborhood, yet slightly above the Winnipeg average, suggesting the land itself is a significant driver of value.

The appeal lies in a trade-off: accepting a smaller, older home in exchange for a vast, versatile parcel of land. It suits buyers prioritizing outdoor space for hobbies, gardening, or future expansion over immediate square footage. It would also appeal to those seeking a sense of retreat without leaving the city, or an investor/developer eyeing the long-term potential of the land. A less obvious perspective is that the below-average assessments for the street and area could indicate an opportunity in a neighborhood where property values are generally higher, with the land acting as a stable asset.

Frequently Asked Questions

1. Is the price driven more by the house or the land?
The data strongly suggests the land is the primary value driver. The lot size is elite for Winnipeg, while the home's size and assessed value are below area averages.

2. How does the home's condition compare to others on the street?
The year built (1977) is around the street average, but the living area is smaller than most neighbors. This indicates the house itself may be more basic or in need of updates compared to others on Balgona Road.

3. What are the potential uses for such a large lot?
Beyond a large yard, the lot could accommodate extensive gardening, recreational spaces, outbuildings (subject to bylaws), or could be held as a long-term asset with future development potential.

4. Why is the assessed value below the neighborhood average?
This is likely due to the combination of a smaller-than-average home for the area and an older construction date relative to the neighborhood, which has many newer homes (average year built 2013).

5. How can I verify the exact past sale prices?
The site provides estimated sale price ranges from public data. For fully verified figures and a complete transaction history, you must request a manual lookup via email, as MLS data is not displayed here.