Property Overview: 875 Manitoba Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a modest, century-old one-storey home in Winnipeg's Burrows Central neighbourhood, built in 1905. Its key characteristic is its proportion: situated on a standard city lot of approximately 3,585 sq ft, the living space itself is quite compact at 516 sq ft. The home features a detached garage and an unrenovated basement. Its most recent recorded sale was in 2019 for $80,000, with a current assessed value significantly below the city average.
The primary appeal lies in its potential as an affordable entry point into the housing market. It suits a very specific type of buyer: the hands-on investor or the extremely budget-conscious first-time buyer willing to live minimally while planning a future expansion or rebuild. The value is fundamentally in the land rather than the existing structure. A less obvious perspective is that its tiny footprint and low holding costs could make it a viable candidate for a carefully designed, modern infill project or a "right-sized" home for someone seeking to minimize their physical and financial footprint, though this requires vision and capital.
Section 2: Frequently Asked Questions
1. What is the true condition of the home?
The listing notes the basement is "not renovated," which typically suggests it is in original or utilitarian condition. Given the home's age (1905) and very low assessed value, buyers should anticipate and budget for significant updates, repairs, or even a full rebuild.
2. Is this a good investment property?
For a landlord, the existing small structure may limit rental income potential. The investment case is more strongly tied to the long-term value of the land in a central Winnipeg location, making it potentially more suitable for a future development play than for immediate cash flow as a rental.
3. Can the house be added onto or renovated?
While the lot size provides room to expand, the age and condition of the home mean any major renovation or addition would need to be approached carefully. It's essential to consult with a contractor and the city about feasibility, permits, and potential heritage considerations for a home of this era.
4. Why is the assessed value so much lower than other city homes?
The assessed value reflects the market value of both the land and the building. Here, the age, very small size, and likely condition of the 516 sq ft structure significantly reduce the overall assessment, placing almost all the value on the lot itself.
5. What are the immediate next steps for a serious buyer?
A thorough professional inspection is non-negotiable to understand the full scope of needed repairs. You should also investigate zoning bylaws for potential future development, inquire about utility costs, and get pre-approved for financing, as some lenders may have restrictions on mortgages for properties of this value and condition.