Property Overview & Key Characteristics

This property at 345 Beaverbrook Street in Winnipeg's Sir John Franklin neighbourhood presents a unique opportunity centred on land value and location. Its primary appeal lies in its substantial 4,079 sqft lot, which ranks within the top quarter for size on its street and in the wider neighbourhood. The data indicates a consistent pattern of the property selling for a price significantly above its assessed value, suggesting a market premium for the location or lot potential. With no garage, pool, or finished basement noted, this is squarely a land-value proposition or a foundation for a future build.

It would best suit a specific type of buyer: an investor or builder looking for a infill or redevelopment opportunity in a well-established area, or a very hands-on purchaser willing to undertake a significant renovation or new construction project. Its value is not in a move-in-ready home, but in the underlying asset and its possibilities.

Frequently Asked Questions

1. Why is the sold price so much higher than the assessed value?
This is common when the market value is driven by factors beyond the current structure, such as the land's redevelopment potential. The sale price reflects what buyers are willing to pay for the lot in its location, while the assessment may weigh the existing property condition more heavily.

2. What does the "Top 1%" sales rank mean?
For its previous sales in 2023 and 2019, this property sold for a price higher than 99% of comparable properties in its immediate area. This doesn't mean it's the most expensive home, but that it achieved a sale price at the very top end of the market for properties with similar assessed values, highlighting strong demand for this specific parcel.

3. Who is the typical buyer for a property like this?
Given the data, the likely buyers are builders, developers, or investors seeking a lot in a mature neighbourhood. It may also attract a homeowner with a clear vision to custom-build, as starting with a vacant or under-utilized lot in an established area can be preferable to a teardown.

4. How does the lot size compare to nearby properties?
At over 4,000 sqft, the lot is larger than approximately 74% of properties on its street. This above-average size is a key asset, providing more space for landscaping, additions, or meeting setback requirements for a new build compared to narrower lots in the area.

5. What is the neighbourhood context?
Sir John Franklin is a central Winnipeg neighbourhood. The provided comparisons show a mix of modest assessed values on Beaverbrook and Centennial Streets, with a sharp contrast to significantly higher-valued homes on prestigious streets like Wellington Crescent. This indicates a diverse area where value is very street-specific.