Property Overview
This is a modest, one-storey home built in 1942 on a standard city lot in Winnipeg's Brooklands neighbourhood. Its key characteristic is its scale: with a living area of 630 sq. ft., it is a notably compact home. This is balanced by a land area of 3,862 sq. ft., which is typical for the local area. The property features a detached garage and an unrenovated basement. Recent assessed values and sale prices have consistently been well below city-wide averages, reflecting its size and condition.
Section 1: Key Details & Appeal
Key Characteristics:
- A compact, 630 sq. ft., one-storey wartime home built in 1942.
- Sits on a standard, usable lot of approximately 3,860 sq. ft.
- Includes a detached garage and an unrenovated basement.
- Historically low property assessments and sale prices compared to the wider Winnipeg market.
Where its appeal lies & Suitable Buyers:
The primary appeal of this property is its straightforward value and potential. It represents one of the most accessible entry points into the Winnipeg housing market. The lot size is its most flexible asset, offering room for expansion, gardening, or outdoor space that the small house itself does not provide.
It would best suit a practical, hands-on buyer. This could be a first-time purchaser comfortable with a "blank canvas" home, an investor looking for a rental property with a low acquisition cost, or someone seeking a minimal-footprint living situation where the land holds future optionality. Its scale makes it manageable, but it is not a move-in-ready home for someone seeking modern finishes or more space.
A less obvious perspective is its potential as a strategic hold. In a neighbourhood of similarly valued homes, it may offer insulation from wider market volatility, and its fundamental value is firmly tied to the land, which is in a settled, established area.
Section 2: Frequently Asked Questions
1. Is this a "tear-down" property?
Not necessarily. While its small size and unrenovated state mean it requires significant updates for modern living, the home is likely functional. The decision to renovate or rebuild would depend entirely on the buyer's budget and vision for the lot.
2. Why is the assessed value so much lower than the city average?
Property assessment is heavily influenced by the size, condition, and features of the home itself. With very limited living area and no noted renovations, the assessed value reflects the building's current contribution to the property's worth, with the land value making up a significant portion.
3. What are the implications of an unrenovated basement?
This typically means the basement is in its original, likely concrete-walled state. It may be suited for storage or utilities but would require significant investment for finishing or waterproofing. Buyers should budget for an inspection to understand its condition fully.
4. How does the lot size compare to newer homes?
The lot is quite standard for its era and neighbourhood but is smaller than the current city-wide average for single-family homes. It is a typical urban lot, not oversized, but provides a good balance of outdoor space relative to the home's footprint.
5. The sale prices in 2016 and 2019 seem very similar. What does this indicate?
This price stability over several years suggests the property's market value is anchored to its basic utility and land value in the local context, rather than being influenced by the speculative price increases seen in other market segments. It indicates a stable, baseline valuation.