Property Summary: 8-1056 Grant Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, 554 sqft condo unit in the well-established Grant Park neighbourhood. Built in 1964, it is a modest property with a notably low municipal assessed value of $11,600. The data clearly positions it as a smaller and more affordable option compared to most homes on its street, in the area, and across Winnipeg. Its primary appeal lies in its accessibility. It represents a very low barrier to entry into a central, mature neighbourhood known for its amenities like the Grant Park Shopping Centre. This isn't a property for someone seeking space or modern finishes; instead, it suits a specific buyer looking for absolute minimal overhead. It would be ideal for a first-time investor seeking a rental property with a low initial tax and carrying cost, or an extremely budget-conscious individual (such as a student or retiree) who prioritizes location over square footage. A thoughtful perspective is that such a low assessment can sometimes indicate a need for significant updates, so its true value is for a buyer who sees potential in a basic shell or is comfortable with a no-frills living situation.
Frequently Asked Questions
1. Why is the assessed value so much lower than typical area properties?
Municipal assessments are based on factors like size, age, and market value. This unit's very small square footage and age place it in a lower value category compared to larger, newer homes or condos in Grant Park.
2. What does the sold price history tell me?
The listed sale in May 2021 for between $9.5k and $12.5k suggests the property transacts close to its assessed value. This consistency indicates a market that views it primarily as an affordable asset rather than a speculative investment.
3. Who is this property most suitable for?
It is best suited for an investor looking for a low-cost rental property with minimal property tax, or an owner-occupant with a very tight budget who values location above all else and is comfortable in a small, likely dated space.
4. Are there any obvious concerns with a property of this age and size?
Prospective buyers should be prepared for potential maintenance or updating needs common in buildings from the 1960s. The very small living area also requires consideration of personal space needs and the functionality of the layout.
5. How does it compare to other units in the same building?
The listing shows several other units at the same address (e.g., 10-1056, 12-1056). This suggests a multi-unit condo complex. Comparisons should be made on factors like unit orientation, interior condition, and specific condo fees, which are not detailed in this public data.