Property Overview & Key Characteristics
This one-storey home at 16 Cunnington Avenue in Winnipeg's Elm Park neighbourhood presents a straightforward, value-oriented opportunity. Its key appeal lies in its below-average price point within a mature, established area. With 896 sqft of living space, the house is notably compact, ranking below average for size both on its street and in the wider city. The assessed value is significantly lower than area averages, suggesting it is one of the more accessible entry points into the neighbourhood. The lot size is a standard city dimension at just over 5,000 sqft.
The home suits first-time buyers or practical investors seeking a lower-cost foothold in a stable area, with the understanding that the property may require updates. Its 1927 build date offers classic character but also implies that systems and the unrenovated basement will need careful evaluation. A thoughtful perspective is that this property represents the "land and location" portion of the market—its value is anchored more in its Elm Park address and decent-sized lot than in its current structure, which could be seen as a canvas for future improvement.
Frequently Asked Questions
1. Why is the assessed value so much lower than nearby homes?
The assessed value is based on the property's current state, size, and recent market data. The significantly lower assessment compared to area averages reflects the home's compact size, age, and condition, particularly the unrenovated basement.
2. What does the ranking data for living area and value mean?
The rankings compare this home to others. For example, its living area is in the top 75% largest on its street, but that means it's actually the 73rd largest out of 97—so it's in the bottom quarter for size. Similarly, its assessed value ranking (88th of 97) places it in the most affordable tier on Cunnington Avenue.
3. Is the lot a good size for the area?
Yes. At 5,197 sqft, the land area is very close to the average for Cunnington Avenue and is a standard residential lot for older Winnipeg neighbourhoods. This is a typical, usable yard space.
4. Who would this home be a good fit for?
It's best suited for buyers with a realistic budget who prioritize location over move-in-ready condition. It's a practical choice for first-time homeowners comfortable with a smaller footprint or for investors looking for a rental property in a stable area, with the understanding that maintenance and potential renovations are part of the plan.
5. How does the 2017 sale price relate to today's value?
The 2017 sale price of $230k provides historical context, but market conditions have changed. The current assessed value offers a more recent benchmark, though the actual market value will be determined by current demand, the property's condition, and recent comparable sales.