Property Overview

Key Characteristics & Ideal Buyer

This property is defined by two striking extremes. The living area is assessed at roughly $97,000, ranking in the bottom one percent citywide, on its street, and in its immediate area. That places it among the lowest-value homes in Winnipeg for its size. However, the land it sits on is nearly an acre—48,523 square feet—which puts it in the top one percent citywide for lot size. The house itself is older, but the land is the clear asset here.

The appeal lies in the land, not the structure. For a buyer, this is less a move-in-ready home and more an opportunity to rebuild, subdivide, or hold a large parcel in a city where such lots are rare. The property sits on Pembina Highway, a major artery, and within the Turnbull Drive area, which has an average assessed value over $557,000. That context matters: you’re buying into a high-value neighborhood with a structure that drags the total assessed value down. For someone willing to renovate or demolish, the location and lot size could justify the work. This would suit an investor, a developer, or a buyer with the patience and capital to treat the house as a secondary concern—not a first-time homebuyer looking for something turnkey.

Frequently Asked Questions

1. Why is the assessed value so low compared to the neighborhood?
   The living area itself is small and likely outdated, so the city’s assessment reflects the structure’s condition and size. The land, however, is assessed separately and is the main driver of potential value. Neighbors with larger or newer homes bring the area average up, but this specific property contributes less because of its house.

2. Is the lot worth more than the house?
   Almost certainly. A 48,523-square-foot lot in Winnipeg—especially on Pembina Highway—is uncommon. The assessed value of $97,000 likely reflects a minimal value for the structure, with most of the property's worth tied to the land itself. A formal appraisal would clarify the split, but the rankings make the imbalance clear.

3. Would it make sense to tear down the existing house?
   Possibly, but it depends on zoning, demolition costs, and what you want to build. The house is older and ranks poorly, so if your goal is a new home or redevelopment, starting fresh could be worthwhile. Check with the city for any heritage restrictions or lot-specific bylaws before committing.

4. Could the lot be subdivided?
   It’s a large lot, but subdivision rules vary by zone and street frontage. Pembina Highway is a busy corridor, so there may be traffic or utility constraints. A real estate lawyer or city planner can tell you if splitting the parcel is feasible. Don’t assume it’s automatic just because of the size.

5. Who typically buys a property like this?
   Usually, it’s someone with a specific plan—an investor eyeing redevelopment, a builder looking for a prime lot at a discount, or a buyer who wants to renovate extensively and doesn’t mind living in a construction zone. It’s less common for families seeking a finished home, unless they have the budget and timeline to reshape the property completely.