Property Overview: 553 Polson Avenue, Winnipeg
Key Characteristics & Buyer Appeal
This is a compact, one-storey home built in 1912, situated on a standard-sized lot in the Inkster-Faraday neighbourhood. Its key characteristic is its modest scale, with a living area of 692 sqft that places it among the smaller homes in the city. The assessed value is notably low, reflecting its age, size, and unrenovated basement. There is no garage or pool.
The primary appeal lies in its position as an entry-point property. It represents one of the most accessible price points in the Winnipeg market, suited for a very specific buyer. This home would be ideal for an investor looking for a straightforward rental property, a hands-on buyer seeking a minimal footprint with the potential for a future overhaul, or someone with the practical skills to gradually improve a fundamental structure. Its value is in what it is—a basic shelter—rather than in any current finishes or amenities. A less obvious perspective is that such a modest, low-assessment property can offer a measure of insulation from high property tax bills, preserving cash flow for an owner-investor.
Frequently Asked Questions
1. Why is the assessed value so much lower than typical city averages?
The assessed value reflects the property's older age, smaller square footage, and lack of major renovations compared to the broader market. It is assessed based on its current state and utility.
2. What does "basement, not renovated" typically imply?
This usually indicates a functional but unfinished space. It likely has essential utilities but lacks finished walls, ceilings, or flooring. It should be inspected for moisture issues common in older foundations.
3. Who would this property suit best?
It is best suited for a budget-conscious investor, a buyer comfortable with a major renovation project over time, or someone seeking the absolute minimum ongoing carrying costs.
4. How does the lot size compare?
At just under 4,000 sqft, the lot is average for the immediate area but below the Winnipeg citywide average. It provides adequate outdoor space but is not exceptionally large.
5. Where can I find the exact historical sale price?
The exact sale price from January 2018 is not publicly displayed in detail. You can request it directly via the email prompt on the listing page for a manual reply.