Property Overview & Key Characteristics
This one-and-a-half storey home, built in 1947, presents a practical opportunity in Winnipeg's Ebby-Wentworth neighbourhood. Its primary appeal lies in its efficient scale and the value of its lot. With 980 square feet of living space, the house is modestly sized but compares favourably to many immediate neighbours. A notable characteristic is the 4,000 sqft lot, which is larger than average for both the street and the area, offering valuable outdoor space or future potential in a mature community.
The home suits first-time buyers, downsizers, or investors seeking an entry point into the market with a property that has a strong land-to-building ratio. Its significantly below-average assessed value indicates a lower property tax burden, which is a key consideration for budget-conscious owners. The appeal here is less about the existing structure and more about the foundational asset—a well-located parcel of land in an established area. It’s a property for those who see value in the basics and are comfortable with a home that may require updates.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
Assessed value is not market value; it's used for calculating property taxes. A low assessment often reflects the home's age, size, and condition relative to newer or larger homes city-wide, and typically results in a lower annual tax bill.
2. How does the lot size benefit a buyer?
At 4,000 sqft, the lot is above average for the local area. This provides more private outdoor space than many neighbouring properties and could be a factor for future expansion, landscaping, or simply enjoying a larger yard.
3. What does the sale history of nearby properties indicate?
Recent sales on the same street show a wide range of prices and assessed values, suggesting a diverse mix of home conditions, sizes, and updates. This means the value of your investment will be closely tied to the specific condition and improvements made to the property.
4. Is the living space sufficient for a small family?
At 980 sqft, the living area is functional for a small household. Its ranking indicates it's on par with many homes in Ebby-Wentworth, but buyers should be prepared for a more compact layout typical of a 1.5-storey home from this era.
5. What are the implications of buying a home built in 1947?
Homes of this age offer charm and established neighbourhoods but require diligent inspection. Potential buyers should budget for updates to major aging systems like plumbing, electrical, or the roof, and consider the efficiency of original windows and insulation.