Property Overview
This is a compact, 374 sqft unit built in 1963, located at 310-411 Cumberland Avenue in Winnipeg's Central Park neighbourhood. Its standout feature is its exceptionally low financial barrier to entry, with a current assessed value of $6,700 and recent sales in the $6,700-$7,300 range. The unit has no basement, pool, or garage.
Key Characteristics & Appeal
The primary appeal of this property is its function as a minimal-capital entry point into the housing market. It suits buyers for whom absolute affordability and low ongoing property taxes are the top priorities, such as a very budget-conscious first-time investor looking for a rental property, or an individual seeking the simplest form of homeownership with minimal financial exposure. While its living area is significantly below average for the city, it ranks more competitively within its immediate building and neighbourhood context.
A less obvious perspective is its potential utility as a dedicated city pied-à-terre or a low-overhead base for someone who travels frequently or lives a minimalist lifestyle. Its consistent sale history also suggests a stable, if modest, niche in the local market. It is not suited for those requiring space, private amenities, or new construction.
Frequently Asked Questions
1. What does the "Top 1%" ranking for Year Built mean?
This indicates that, within its specific group of comparable homes on Cumberland Avenue and in Central Park, this 1963-built unit is among the newest 1%. This is relative to its direct peers, which are older on average, not compared to the entire city's newer housing stock.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the unit's very small size (374 sqft), age, and lack of additional features like a parking spot or balcony. It is consistent with other similar units in the same building.
3. What type of ownership is this (condo, co-op, etc.)?
The listing does not specify. Given the building type and unit numbering, it is likely a condominium or housing co-operative. Prospective buyers must verify the exact ownership structure, bylaws, and monthly fees with the listing agent.
4. Is parking available?
The listing specifies "Garage: None." Parking, if available, would likely be an unassigned street permit or a separate rented spot. This should be confirmed directly.
5. Has the property value been stable?
Recent sales show modest fluctuation between $6,700 and $7,300 over a two-year period, suggesting a stable value at this very affordable price point within its specific market segment.