Property Overview: 1673 Arlington Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1925 on a standard city lot in the Inkster-Faraday neighbourhood. Its key appeal lies in its affordability and straightforward utility. With 805 square feet of living space and an unrenovated basement, it presents a no-frills opportunity. The detached garage adds practical storage or workshop space.
The home’s standout feature is its exceptionally low property taxes, reflected in the assessed value that is well below city averages. This makes its ongoing ownership costs very manageable. While smaller than most homes in the city, its size is more typical for its immediate street and area, suggesting a comfortable fit within the established neighbourhood scale.
This property would suit a first-time buyer, an investor, or someone looking to minimize housing expenses. It’s a practical entry point into the market for a buyer comfortable with a home that may require updates over time. Its value is rooted in function and cost-effectiveness rather than luxury or immediate modern finishes.
Section 2: Frequently Asked Questions
1. Is this a "tiny home"?
Not exactly. While its living area is below the city average, it is a standard, detached historical house. Its size is more in line with the practical, post-war housing common in its neighbourhood, offering the full benefits of a detached property on its own lot.
2. Why is the assessed value so much lower than the city average?
The assessed value is primarily for calculating property taxes and is influenced by the home's size, age, and market conditions in its specific area. This low assessment is a significant advantage, resulting in proportionally lower annual property taxes for the owner.
3. What does "basement, not renovated" imply?
It typically means the basement is unfinished or in original condition. It offers functional space for laundry, storage, or mechanical systems, but any finished living space would be a future project for the buyer.
4. How does the recent sold price range compare to the assessed value?
The sold price range from 2023 is close to the current assessed value, which is uncommon in many markets. This can indicate a stable, affordable market segment where purchase price and tax assessment are aligned, reducing financial surprises.
5. Who might the "similar assessed value" properties be for?
The listed similar-value properties are primarily condominiums. This highlights a key choice: this house offers a detached living experience with a private yard and garage at a price point comparable to a condo unit, albeit with the maintenance responsibilities of a standalone house.