Property Summary: 1268 sqft Home on Folkestone Boulevard, Tuxedo

Key Characteristics & Ideal Buyer Profile

This property is a 1973-built home with roughly 1,268 square feet of living space on a 9,746 sqft lot. Its assessed value sits at $601,000. The home is small for its street and neighbourhood—ranking in the bottom 1% for living area in Tuxedo and bottom 7% on Folkestone Boulevard—but the lot is generous: top 7% citywide and well above the Winnipeg median. The assessed value is notably high for the size, ranking in the top 8% across the city, which likely reflects the land’s value in an established, desirable area.

The appeal lies in land, not square footage. A buyer gets a sizable Tuxedo lot—a rarity at this price point—with a modest home that could be renovated, expanded, or potentially redeveloped, depending on zoning. It’s also newer than much of the surrounding housing stock (top 15% in Tuxedo for year built), meaning the structure may require fewer immediate replacements than a 1950s bungalow on a similar lot.

This property suits buyers who prioritize outdoor space, location, and future potential over move-in-ready interior finishes. It would be a strong fit for someone planning a major renovation, a builder looking for a tear-down or addition project, or a homeowner who wants a large yard in an established neighbourhood without paying for a larger house they don’t need. It is less ideal for buyers seeking a turnkey home with generous living area—especially those comparing within Tuxedo’s typical footprint.

Five Possible FAQs

1. Why is the assessed value so high relative to the home’s size?
The assessed value reflects both the dwelling and the land. In Tuxedo, land carries significant value, and this lot is well above average for the city. The relatively small house doesn’t drag the assessment down as much as it would in a neighbourhood where land is cheaper.

2. Can this property be subdivided or redeveloped?
That depends on current zoning bylaws for Folkestone Boulevard in Tuxedo. A 9,746 sqft lot is larger than many in the area, but subdivision rules, minimum lot sizes, and frontage requirements vary. A buyer should verify with the city’s planning department before assuming any development potential.

3. How does the home’s 1973 build compare to older homes in Tuxedo?
Many homes in Tuxedo date from the 1950s and 1960s. A 1973 build is newer than roughly 85% of the area’s housing stock. This often means updated electrical, plumbing, and framing standards, though specific mechanicals and finishes should still be inspected.

4. Is the living area measurement based on above-grade square footage only?
The listing indicates 1,268 sqft, which typically refers to finished above-grade space. Basements are usually not included, so total finished square footage could be higher if the lower level is developed. A buyer should confirm what is included in the measurement.

5. How does this property compare to others currently for sale on Folkestone Boulevard?
With 30 homes on the street, this property ranks 28th for living area and 29th for assessed value. It is among the smallest and least expensive houses on the block, but its lot is larger than many. Neighbouring homes are generally bigger and pricier, so this represents a lower-entry point into the street.