Property Summary: 616 Boyd Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1909, offering 720 square feet of living space on a 2,282 sqft lot in the Inkster-Faraday neighbourhood. Its key characteristic is its exceptionally low financial barrier to entry, with an assessed value of $110k—placing it among the most affordable properties citywide. The home has a basement, but it is not renovated, and there is no garage or pool.
The appeal lies in its pure value as an entry point into homeownership or as a strategic investment property. It suits buyers with very limited budgets who prioritize getting onto the property ladder over move-in-ready condition, or investors looking for a low-cost rental asset. A less obvious perspective is its potential for someone seeking a minimalist footprint or a "blank canvas" project without the premium price tag of a larger lot or newer home. Its age and size mean utility and maintenance costs could be proportionally lower than for a standard-sized house, which is a practical consideration for tight budgets.
Section 2: Frequently Asked Questions
1. What does "below average" in the rankings actually mean for a buyer?
It quantifies that this home is smaller, older, and on a smaller lot than most in its area and the city. This isn't necessarily negative; it directly explains the low assessed value and identifies this as a value-play property rather than a premium one.
2. The sold price history shows a range of $11.5k-$14.5k in 2021. Why is the assessed value now $110k?
The 2021 sale price appears to be an extreme outlier, potentially indicating a non-arms-length transaction or a sale of the land only. The current assessed value of $110k is a municipal assessment for taxation purposes and is a more realistic indicator of its current market valuation relative to other properties.
3. What are the implications of the "basement, not renovated" note?
This indicates the basement exists but is in original or unfinished condition. Buyers should budget for potential moisture issues, necessary upgrades for livability, and should anticipate that it does not add functional living space in its current state.
4. Who is this home not suited for?
It is not suited for buyers who need multiple bedrooms, modern finishes, or ample storage without significant immediate investment. It is also likely not ideal for those unable to handle gradual renovations or the potential maintenance challenges of a 117-year-old structure.
5. The lot is smaller than average. Is that a major drawback?
While it limits expansive outdoor additions like a large garage or deck, the smaller lot reduces yard maintenance time and cost. For an investor or first-time buyer, this can be a practical benefit rather than a drawback.