Property Overview: 112 Mallard Way, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in Inkster Gardens is a practical and affordable entry point into the Winnipeg market. Built in 1983, its 1,040 sqft living area and renovated basement offer functional space. The lot is a standard size for the area at just under 5,000 sqft.
The primary appeal lies in its value positioning. With an assessed value significantly below the city average, it represents a lower barrier to entry. The home’s metrics are consistently average or slightly below average for its immediate street and neighborhood, suggesting it’s a typical, no-frills property in this community. This isn’t a standout luxury home, but a grounded option where what you see is likely what you get.
It would suit first-time buyers or investors seeking a straightforward, lower-cost property. Its renovated basement adds usable living space, which is a plus for small families or those needing a home office or rental suite potential. The buyer here is likely pragmatic, prioritizing function and affordability over prestige or top-tier finishes.
Section 2: Frequently Asked Questions
1. Is the assessed value the same as the market value?
No. The assessed value ($35,800) is for municipal tax purposes. The recent sold price history (e.g., $26.5k-$29.5k in late 2019) and current market conditions will determine the actual market value, which can be significantly different.
2. What does "below average" for the neighborhood really mean?
For this home, key metrics like living area and assessed value rank in the bottom 15-25% for Inkster Gardens. This doesn’t necessarily mean the property is deficient, but that it is more modest and likely priced lower than many homes in the broader area.
3. How updated is the renovated basement?
The listing confirms the basement is renovated, but the scope, quality, and when it was done are not detailed. This is a key question for a home inspection to assess the finish quality and ensure any work was permitted.
4. What are the implications of having no garage?
This means all parking is on the driveway or street. Consider your vehicle storage needs, winter weather implications, and whether there is space or potential to add a shed for additional storage.
5. The sold price from 2019 seems very low. Why?
The sold price range shown is from over five years ago and reflects the market at that time. It highlights the home's history as a very affordable option, but it is not a direct indicator of today’s value. Significant market shifts have occurred since then.