Property Overview
This is a modest, one-storey home built in 1955 on a standard city lot in Winnipeg's Brooklands neighbourhood. Its key appeal lies in its affordability and potential as a straightforward investment property or entry point into homeownership. At 784 square feet of living space with no basement, garage, or pool, it is a compact, no-frills dwelling.
The home suits buyers with specific goals: first-time buyers seeking a low barrier to entry, investors looking for a rental property with a manageable footprint, or those interested in the underlying land value. Its very low assessed value, while significantly below area averages, indicates this is not a renovated or modernized property. This presents a clear value proposition for buyers willing to undertake updates or who prioritize low carrying costs over turn-key condition. A thoughtful perspective is that this property offers a chance to build equity through renovation in an established neighbourhood, rather than paying a premium for already-completed work.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value is based on the property's current state, size, and features. Being significantly below average suggests the home likely requires modernization and may not have undergone recent major updates, reflecting its as-is condition.
2. What does having "no basement" mean for this property?
All living space, mechanical systems (like the furnace and water heater), and storage are on the main floor. This can simplify maintenance and renovations but reduces storage and potential for finished below-ground space.
3. Is the land size typical for the area?
Yes. The lot is approximately 3,747 sqft, which is around the average for both Legion Avenue and the broader Brooklands neighbourhood, offering standard outdoor space for the community.
4. Who would this property be most suitable for?
It is best suited for budget-conscious first-time buyers, investors seeking a rental property, or handy individuals looking for a project to add value through renovation.
5. How does the living area compare to nearby homes?
At 784 sqft, the living area is smaller than many homes in Winnipeg overall but is closer to the average for nearby homes on Legion Avenue and in Brooklands, representing a more compact housing option common in this part of the city.