Property Overview
662 Dufferin Avenue is a compact, one-storey home with a detached garage, built in 1907. Its key characteristic is its modest scale: at 648 square feet, the living area is notably smaller than most homes in Winnipeg. The property sits on a roughly 3,682 sqft lot, which is also below the citywide average but more in line with the local neighbourhood. It last sold in 2019 for $80,000, and its current assessed value is $9,900.
The appeal of this property lies squarely in its affordability and land value within an industrial-zoned area. It suits a very specific type of buyer: an investor, a small business owner looking for a live-work setup, or a hands-on individual seeking an ultra-affordable entry into the market with plans to renovate or redevelop. Its low taxes and price point are the primary draws, not its current condition or size. A less obvious perspective is its potential as a strategic land hold in a transitioning area, where the value may be more in the lot than the existing structure.
Frequently Asked Questions
1. Why is the assessed value so much lower than the last sale price?
Assessed value for tax purposes is not the same as market value. The 2019 sale price of $80,000 reflects what a buyer was willing to pay at that time, while the assessment is an administrative valuation based on mass appraisal techniques and may lag behind market shifts.
2. What does "Dufferin Industrial" zoning mean for living here?
This zoning prioritizes industrial and commercial uses. While residential use may be permitted, living here means being surrounded primarily by business and light industrial activity, not a typical residential streetscape. This can mean more noise, traffic, and fewer residential amenities, but also potentially fewer restrictions for certain home-based businesses.
3. Is the basement finished?
No. The listing specifies the basement exists but is "not renovated."
4. How does the small living area compare locally?
At 648 sqft, this home is smaller than most in its immediate area. Comparable homes on Dufferin Avenue average about 1,049 sqft, and in the wider Dufferin Industrial neighbourhood, they average about 885 sqft.
5. What are the major considerations for a renovator?
Beyond the obvious need for modernization, a home built in 1907 requires a thorough inspection for foundational integrity, wiring, plumbing, and insulation. The very low assessed value also suggests major updates have not been recently completed, so a renovation budget should be significant and planned carefully.