Property Overview
This is a compact, historic property built in 1909, located at 13-350 Qu'Appelle Avenue in Winnipeg's Central Park neighbourhood. At 511 square feet, it offers minimal living space. The home has no basement, pool, or garage. Its most defining feature is its exceptionally low municipal assessed value of $3,600, which is among the lowest in the entire city. It last sold for $6,200 in January 2018.
Key Characteristics & Appeal
The primary appeal of this property lies in its ultra-low cost of entry into the Winnipeg market. It is not a typical family home but represents a niche opportunity. Its assessed value is average for its immediate street but is in the bottom 3% for its neighbourhood and the bottom 1% city-wide, indicating a significant price disparity based on location.
This property would suit a very specific type of buyer: an investor or handy purchaser looking for an absolute minimum capital outlay. It could be a candidate for a complete, budget-conscious renovation as a holding property, or potentially for other strategic uses where the land or location, close to downtown, is the primary value driver. The data suggests it exists in a micro-market of its own on Qu'Appelle Avenue, separate from the broader area, which may appeal to those with deep local knowledge.
Frequently Asked Questions
1. Why is the assessed value so low compared to the rest of the city?
The assessed value reflects the property's very small size (511 sq ft), age, lack of amenities, and its specific location within the Central Park area, which has a lower average property value than most of Winnipeg.
2. What type of mortgage or financing would be available for a property at this price point?
Traditional mortgage financing is often difficult for properties at this price due to minimum loan amounts. Purchases typically require cash or alternative financing methods.
3. Are the property taxes also proportionally very low?
Yes, municipal property taxes are calculated based on the assessed value. An assessed value of $3,600 would result in one of the lowest possible tax bills in Winnipeg.
4. What should a potential buyer investigate about the building's condition?
Given its age (117 years) and price, a thorough inspection for structural integrity, wiring, plumbing, and roof condition is essential. The cost of necessary repairs could quickly exceed the purchase price.
5. How meaningful is the 2018 sale price of $6,200 for determining current value?
It establishes a very recent benchmark for ultra-low-value transactions in this specific building cluster. However, market conditions and the property's state have likely changed since then, so it is a reference point, not a definitive current value.