Property Overview
772 Stella Avenue is a compact, one-storey home in Winnipeg's Dufferin neighbourhood. Built in 1905, its key characteristic is its notably small living space of 513 square feet, which ranks it at the very bottom of the scale compared to nearly all homes on its street, in the area, and citywide. It sits on a 3,331 sqft lot, which is also below average for the immediate area. The home has a detached garage and an unrenovated basement. Its most recent recorded sale was in late 2017 for $60,000, and its current assessed value is significantly lower than area averages.
The primary appeal of this property lies in its position as a true entry-point into homeownership or as a minimal-hold investment. It suits a very specific buyer: someone seeking the absolute lowest price point for a standalone house, willing to occupy or manage a very small, unrenovated space. It could also appeal to an investor looking for a land-hold opportunity in the long term, given that the land value may eventually outweigh the current structure. A less obvious perspective is that its extreme affordability might allow a buyer with limited capital to avoid competition for more typical starter homes, providing a unique, if challenging, foothold in the market.
Frequently Asked Questions
1. Why is the assessed value so much lower than the last sale price?
The last sale was in 2017 for $60,000. The current assessed value of $7,400 is for taxation purposes and is not an indicator of market value. It reflects a municipal assessment that is often significantly lower than what a property would sell for on the open market.
2. What does "Top 100%" and a low rank mean for Living Area?
This means the home's living area is in the smallest 100% of homes compared—effectively, it is smaller than all peers in the comparison group. A rank of 187 out of 187 on its street confirms it has the smallest living area in that specific dataset.
3. Is the house livable in its current state?
The listing notes the basement is "not renovated." Given the home's age and this description, a buyer should anticipate needing updates and potentially significant repairs. It is strongly advised to arrange a thorough inspection to understand the true condition.
4. Who would this property suit best?
It is best suited for a highly budget-conscious buyer seeking a bare-bones project home, or an investor comfortable with a basic rental or long-term land-hold strategy. It is not suited for anyone needing standard-sized living spaces or a turn-key property.
5. How does the lot size impact potential?
At 3,331 sqft, the lot is below average for the street but still provides outdoor space. For a future buyer, the potential may lie in eventually replacing the existing small structure, subject to local zoning and building regulations. The current value is primarily in the land, not the building.