Property Overview
71 Hamilton Avenue is a 4-level split home built in 1976, located in Winnipeg's Heritage Park neighbourhood. With 1,296 sqft of living space, it sits on a 3,148 sqft lot and features a basement that is noted as not being renovated. The home has no garage or pool. Its current assessed value is $26,900.
Key Characteristics & Appeal
This home presents a specific value proposition. Its key appeal lies in its efficient use of space, offering above-average living area for its immediate street and neighbourhood, all within a modest assessed value. This creates a lower property tax burden compared to many area homes. The 4-level split design provides natural separation of living spaces, which can suit families or those who like defined zones for living, sleeping, and recreation.
The property would suit practical, value-conscious buyers such as first-time homeowners seeking an entry into the neighbourhood, or investors looking for a rental property with a favourable assessed value-to-rent ratio. It’s less suited for those seeking a large yard or a move-in-ready, fully renovated basement. A thoughtful perspective is that the unrenovated basement, while a project, offers a blank canvas for customization without paying a premium for someone else’s finished work. Additionally, its assessed value being significantly below neighbourhood averages suggests a potential long-term tax advantage, even as the area evolves.
Frequently Asked Questions
1. Why is the assessed value so much lower than the average sold price?
Assessed value is set by the municipality for tax purposes and often lags behind current market values, which are determined by what buyers are willing to pay. A low assessment can mean relatively lower property taxes.
2. What does "basement not renovated" typically imply?
It usually means the basement is in a functional but basic state, likely with unfinished or dated finishes. It offers utility and storage space but will require investment to modernize or finish it to match the main living areas.
3. How does the smaller lot size impact the property?
The lot is below average in size for the area. This means lower maintenance for yard work but also less private outdoor space. It may also influence future expansion potential, such as additions or a garage.
4. Is a 4-level split an efficient layout?
It offers good separation of space, often with living areas on two mid-levels and bedrooms split across upper and lower levels. The trade-off is more stairs between living zones, which may not suit everyone.
5. The sold price history shows a wide range. How is that accurate?
Publicly available sales data is often reported in broad ranges. For the exact historical sold price, you need to request it directly from the listing service or your real estate agent, who can access the precise figure.