485 South Drive – Property Summary

Key Characteristics & Buyer Profile

This is a 1,202-square-foot home built in 1953, sitting on a 10,487-square-foot lot in the Wildwood neighborhood of Winnipeg. Its strongest feature is the land: the lot ranks in the top 5% citywide, meaning it’s significantly larger than typical Winnipeg properties. Within Wildwood, the lot is also well above average (top 14%), though it’s smaller than many other homes on South Drive itself, where lots tend to be much larger (averaging over 20,000 square feet).

The house itself is modest in size—below average for the street and slightly below average for the neighborhood, but right around the citywide norm. Its assessed value of $476,000 reflects this: below average for South Drive (where values average nearly $1 million), but clearly above average for Winnipeg as a whole (top 24%). The home is older than much of the city’s housing stock, but it’s actually among the newer homes in Wildwood, where the average year built is 1950.

Where the appeal lies: The property offers a rare combination—a large, citywide-top-tier lot in an established neighborhood, with a smaller, more modest home that keeps the total price relatively accessible compared to other properties on the same street. For someone who values outdoor space, gardening, or the potential for future expansion, this lot is the real draw. The house itself is functional but unremarkable in size; its value is more about location and land than square footage.

What type of buyer it would suit: This home would likely appeal to buyers who are willing to trade interior space for land—perhaps a small family, a downsizer wanting a big yard, or someone looking for a renovation project in a desirable area. It’s less suited for anyone who needs a large, move-in-ready house or who prioritizes a newer build. The property also sits on a street where many homes are significantly larger and more expensive, so it offers a lower entry point into a higher-value neighborhood.

Five Possible FAQs

1. Why is the assessed value so much lower than the street average but higher than the city average?
The street average is skewed by much larger, more expensive homes on South Drive—some nearly double the square footage. Your home is smaller and older than many of those, so its value is lower. But compared to the wider Winnipeg market, the land alone pushes the value well above typical city properties.

2. What does “Above Average” for year built in the neighborhood actually mean?
It means this house is newer than most around it in Wildwood, where the average build year is 1950. Being built in 1953 puts it in the top 14% of the neighborhood for age. It’s not new by citywide standards, but in this area, it’s relatively recent.

3. Is the living area considered small for a home in this price range?
Yes, for the $476,000 price point in Winnipeg, 1,202 square feet is below average—the citywide median for comparable homes is 1,342 sqft. However, you’re paying more for the lot and location than for the house itself. A similarly priced home in a less established area would likely be larger.

4. Could I build an addition or a second structure on this lot?
At over 10,000 square feet, there is certainly space. However, you’d need to check local zoning bylaws, setback requirements, and any neighborhood restrictions. The lot is larger than 95% of Winnipeg properties, so there’s more flexibility than average, but it’s not a guarantee. A consultation with the city’s planning department would be wise.

5. How does this property compare to others currently for sale in Wildwood?
Without current listing data, the rankings suggest it would be one of the more affordable options in the neighborhood, given its smaller house and lower assessed value. It would also have one of the larger lots. For a buyer focused on value per square foot of land, it likely stands out. For someone wanting a bigger house, it would be on the smaller end of what’s available.