Property Overview
This is a compact, one-storey home on a standard city lot in Winnipeg's Brooklands neighbourhood. Built in 1947, its primary characteristic is its modest 560 sqft living area, which is notably smaller than most homes on its street and across the city. The appeal lies in its position as an entry-point property with a very low assessed value, offering one of the most accessible price points in the market. It suits a specific buyer: someone looking for a minimal footprint to own, an investor seeking a low-cost rental property, or a buyer with land-value vision who sees the potential for future redevelopment more than the current structure. Its above-average lot size for the immediate area is a less obvious asset, providing relative space that the home itself does not utilize.
Frequently Asked Questions
1. Is this a tear-down property?
Given its very small size, age, and low assessed value relative to the land, many buyers will evaluate it primarily for its lot. It could be a candidate for eventual replacement, but a full inspection is needed to determine if the existing structure is viable for renovation or expansion.
2. Why is the assessed value so much lower than typical city homes?
The assessed value reflects the property's specific characteristics: very small living area, older age, and no garage or basement. It's assessed comparably to other very modest homes and some condominium units, not to average-sized single-family houses.
3. What are the ongoing costs like?
Property taxes would be based on the low assessed value, likely resulting in lower annual taxes than most Winnipeg homes. However, older homes can have higher per-square-foot maintenance and heating costs, so utility and repair budgets should be considered carefully.
4. Is the land size a positive feature?
Yes. At 3,546 sqft, the lot is larger than the average for Alexander Avenue and Brooklands. This provides more outdoor space and could offer more flexibility for additions, parking, or landscaping compared to neighbouring properties.
5. How does the recent sale price compare?
The home sold for $12,300 in September 2022, which was close to its assessed value at the time and consistent with its positioning as a very low-price-point property. This recent sale provides a clear, concrete benchmark for its market value.