Property Overview: 1537 Manitoba Avenue, Winnipeg
Key Characteristics & Appeal
This is a modest, post-war one-and-a-half storey home on a standard city lot in the Burrows-Keewatin neighbourhood. Built in 1948, its key characteristic is its straightforward, no-frills profile: it features a detached garage, no basement, and a living area of 879 sq ft, which is notably compact compared to both local and city-wide averages.
The primary appeal lies in its land value and affordability. The lot size of 4,474 sq ft is above average for the immediate street and represents a solid footprint in the city. With a very low assessed value and a recent 2021 sale price of $23,600, this property is one of the most accessible entry points into the Winnipeg market. It suits a specific buyer: an investor, developer, or extremely budget-conscious individual looking for land value or a tear-down/redevelopment project. It is not suited for someone seeking a move-in ready or spacious family home, but rather for those who see potential in the parcel itself or require a minimal holding property.
A less obvious perspective is that its "below average" metrics in living space and assessed value are precisely what define its opportunity. In a market where average prices are significantly higher, it represents a rare low-cost option where the investment is primarily in the location and the land, not the existing structure.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the modest size, age, and condition of the existing structure. City-wide averages include a vast range of newer and larger homes, whereas this property is valued largely for its land.
2. What does "no basement" mean for this property?
It indicates the home is built on a slab foundation or crawl space. This limits storage and mechanical space, and can influence heating costs and renovation options, which is a key consideration for any buyer.
3. Who would be the most likely buyer for this home?
Given the data, the most likely buyers are investors, developers interested in the lot for future redevelopment, or buyers seeking the absolute minimum price point, understanding that significant updates or a rebuild may be the long-term plan.
4. How does the lot size compare to the neighbourhood?
The lot is a strong point. At 4,474 sq ft, it is larger than the average lot on Manitoba Avenue and in the Burrows-Keewatin area, offering more outdoor space or redevelopment flexibility than many nearby properties.
5. The home sold in 2021 for $23,600. What does that price indicate?
This sale price, closely aligned with its assessed value, confirms its status as a ultra-affordable property. It suggests the market at that time viewed it as a land-value purchase or a property requiring substantial investment, rather than a conventionally competitive family home.