498 Stella Avenue

Property Overview

This one-storey home at 498 Stella Avenue is a compact, historic property in Winnipeg's Dufferin neighbourhood. Built in 1896, its 915 sqft living area is modest and below average for the city, but typical for its immediate area. The lot is a standard city size at 4,400 sqft. Key features include a basement (not renovated) and no garage. Its appeal lies in its simplicity and position as one of the more affordable entry points into homeownership in Winnipeg, underscored by a very low municipal assessed value. This is not a move-in-ready modern home, but a straightforward property with clear potential.

It would suit a specific type of buyer: a first-time purchaser, an investor, or a hands-on individual looking for a minimal footprint. Its low assessed value suggests very manageable property taxes, which is a significant, often overlooked advantage. The buyer should be prepared for the realities of an older home (130 years) and see value in the land and location over the current structure. It’s a practical choice for those prioritizing financial accessibility over space or modern finishes.

Frequently Asked Questions

1. Why is the assessed value so much lower than typical city homes?
The assessed value is based on the property's market value as determined by the municipality for tax purposes. This very low figure reflects the home's age, modest size, and likely the need for updates, making it an outlier compared to the Winnipeg average.

2. What does "basement, not renovated" imply?
This indicates the basement exists but is in original or utilitarian condition. Buyers should budget for potential moisture management, foundational updates, or finishing costs if they intend to use the space for living or storage.

3. Is the low living area a major drawback?
It depends on your needs. For a single person, couple, or investor, it can be sufficient and efficient. The home ranks more favourably for size within its own neighbourhood than city-wide, suggesting the scale is local norm.

4. What are the implications of the 1896 build date?
Expect older building materials, systems (like wiring and plumbing), and layouts. While offering charm, it necessitates a thorough inspection and a maintenance mindset. Its age makes it one of the oldest homes in the area.

5. Who might be interested in a property like this?
Primarily first-time buyers seeking extremely low property taxes and an entry point, or investors looking for a rental property with a low cost basis. It’s less suited for those seeking modern convenience without renovation work.