Property Overview: 1092 Fernbank Avenue

Key Characteristics & Buyer Appeal

This property at 1092 Fernbank Avenue in Winnipeg's Rosser-Old Kildonan area presents a unique profile defined by its land value. The primary asset is a sizable 2,360 sqft lot, which ranks within the top third for size on its street. However, the data indicates there is likely no primary structure of significant assessed value, as the building details (year built, living area) are unlisted and the assessed value is very low at $11,300. This is significantly lower than neighbouring properties on the same street and in the wider area.

Its appeal lies almost entirely in the land itself. It represents a blank canvas opportunity in an established neighbourhood. This would suit a specific type of buyer: someone looking for a land purchase to build a new home to their exact specifications, an investor considering future development potential, or a buyer willing to place a mobile or modular home. It's a proposition centered on future potential rather than immediate move-in readiness. A less obvious perspective is that a lot of this nature in a long-established area can be rare, offering a chance to create a new home without competing in the typical market for existing houses.

Frequently Asked Questions

1. Is there a house on this property?
Based on the provided data, it appears there is no primary residential structure of significant value. The assessed value is extremely low and comparable to vacant land, and fields for living area and year built are not listed. Verification with a real estate agent or the listing authority is essential.

2. Why is the assessed value so much lower than the neighbours?
The assessed value of $11,300 is consistent with vacant land or a property with minimal improvements. Neighbouring properties with houses have assessed values roughly ten times higher, confirming that this valuation reflects the land only, without a dwelling.

3. What can I build on this lot?
This depends on the City of Winnipeg's zoning bylaws for the specific parcel. A buyer must investigate the permitted uses, building setbacks, height restrictions, and any other development regulations before purchasing with the intent to build.

4. Are utilities available to the site?
This is a critical question for a land purchase. Prospective buyers must confirm the availability and connection points for water, sewer (or septic feasibility), natural gas, and electricity to the buildable portion of the lot.

5. What are the typical property taxes for a newly built home here?
The current taxes are based on the land-only assessment. Once a dwelling is constructed, the property will be reassessed, and taxes will increase significantly to align with the new, full market value of the house and land combined.