Property Overview: 672 Wellington Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1905, situated in Winnipeg's Daniel McIntyre neighbourhood. With 730 sqft of living space and an unrenovated basement, it is notably smaller than most homes in the city. The lot size is modest but typical for the local area. Its most defining characteristic is its exceptionally low municipal assessed value, which places it in the bottom 1% citywide.
The primary appeal lies in its potential as an entry point into the housing market. The very low assessment suggests a correspondingly low purchase price, making it a candidate for budget-conscious buyers, investors looking for a rental property, or those willing to undertake a renovation project. It suits a pragmatic buyer who prioritizes location and affordability over move-in-ready condition or space. A less obvious perspective is that its age and established neighbourhood offer a character often missing in newer, smaller builds, and its modest size translates to lower utility costs and minimal upkeep—appealing for a minimalist lifestyle.
Section 2: Frequently Asked Questions
1. Why is the assessed value so low?
The assessed value is likely low due to the home's smaller size, age, and the condition of the unfinished basement. It reflects the municipality's valuation for tax purposes, not necessarily the final sale price.
2. What type of renovation would it need?
While specific conditions aren't listed, the mention of an unrenovated basement suggests foundational work may be required. A buyer should budget for potential updates to essential systems (plumbing, electrical, insulation) common in homes of this era.
3. Is the neighbourhood a good investment?
Daniel McIntyre is a mature, established neighbourhood close to downtown. Its stability and convenience are positives, but buyers should research specific street conditions and long-term area development plans.
4. How does the sold price from 2016 relate to today's value?
The 2016 sale price of $110k is a historical data point. Current market value will be influenced by factors like interest rates, housing demand, and the property's present condition, which may have changed since then.
5. Are the property taxes proportionally low?
Typically, yes. Municipal property taxes are calculated based on the assessed value, so a low assessment generally results in lower annual tax bills, which is a key ongoing cost advantage.