Property Overview: 1490 Manitoba Avenue, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1950, presents a practical opportunity centered on its generous 4,559 sqft lot, which is notably larger than many on Manitoba Avenue. The living space is a modest 917 sqft, and the home features a renovated basement. There is no garage or pool. Its recent sale price and assessed value are significantly below the Winnipeg city average, indicating a very accessible entry point into the market.
The primary appeal lies in its land value and renovation potential. The lot size offers room for expansion, gardening, or outdoor living relative to its immediate street. The renovated basement adds functional living space. This property would best suit a first-time buyer, an investor looking for a land-value play, or a hands-on owner willing to live in the home while planning future upgrades. A less obvious perspective is its potential as a "blank slate" in an established neighborhood; its below-average metrics for the city suggest it hasn't been part of the rapid price inflation seen elsewhere, offering a sense of grounded affordability.
Frequently Asked Questions
1. Is the lot size a significant advantage?
Yes. The land area is in the top 27% for Manitoba Avenue, meaning it's larger than most direct neighbors. This provides more outdoor space and potential than is typical for the street.
2. What does "renovated basement" typically mean for a home of this age?
While specifics should be verified by a viewing and inspection, in a 1950s home this often indicates updates to basic finishes, lighting, and possibly moisture control, adding usable living or storage space to the modest main-floor area.
3. Who might this property not suit?
It may not suit buyers seeking a modern, turn-key home with ample indoor square footage, a garage, or premium finishes. The living area is compact and the overall property reflects its age and value bracket.
4. How does the assessed value compare to the sale price?
The assessed value ($23.3k) is close to the late-2019 sale price ($20.1k). This alignment suggests the market and city assessment see similar value, which is often not the case with rapidly appreciating properties.
5. What is the context of the neighborhood (Burrows-Keewatin) metrics?
The home's characteristics—like its lot size, year built, and value—are generally around the average for the Burrows-Keewatin area. This indicates the property is fairly typical for its specific community, rather than an outlier.