Property Overview
This is a compact, no-frills condominium unit in the Bruce Park neighbourhood, built in 1953. Its primary appeal lies in its exceptionally low price point and minimal property tax burden, as reflected in its assessed value of $12,400. With only 497 square feet of living space and no private garage, it represents one of the most accessible entry points into the Winnipeg housing market.
The unit would suit a very specific buyer: someone seeking absolute minimal overhead, such as a first-time buyer on a tight budget, an investor looking for a low-cost rental property, or a senior downsizing to reduce expenses drastically. Its below-average metrics in size, value, and year built compared to most peers aren't drawbacks for this profile but rather the source of its affordability. A thoughtful perspective is that this property trades space and modern features for financial freedom, offering a lifestyle centred on simplicity and low fixed costs.
Frequently Asked Questions
1. What does the ranking data (e.g., "Top 94%") actually mean?
For a given metric like Year Built, being in the "Top 94%" means the property is older than 94% of comparable listings. In this case, it indicates the unit is among the oldest available, which is a key factor in its low price.
2. Are there any monthly condo fees?
The provided data does not list monthly condo fees. This is a critical piece of information to request, as fees can significantly impact the total monthly cost, even on a very low-value unit.
3. What is included in the "Living Area"?
The living area is 497 square feet. This typically includes all finished interior space. Given the size, the layout is almost certainly a studio or a very compact one-bedroom.
4. The unit sold for $11,600 in 2020. What does that suggest?
The recent sale price being close to the current assessed value indicates a stable, low-value property. It doesn't typically experience the market swings of higher-priced homes, which can be seen as a point of predictability.
5. There are many units at "1812 Portage Avenue." What is this building like?
The listing shows several other units at the same address. This is a multi-unit condominium building, likely with shared common areas and exterior maintenance. Speaking to the property manager or a resident would provide insight into the building's condition, rules, and community.