Property Overview
This one-storey home at 641 Polson Avenue in Winnipeg's Inkster-Faraday neighbourhood presents a straightforward, value-oriented opportunity. Built in 1913, the 852 sqft house sits on a 3,252 sqft lot and features a detached garage and an unfinished basement. Its assessed value is notably modest compared to the city-wide average. The appeal here lies in its position as an affordable entry point into the market, offering a manageable scale for a first home, downsizing, or as a potential investment property. It suits practical buyers who prioritize low carrying costs over modern finishes, and who see potential in a home that is average for its immediate area but below average in broader city comparisons. A thoughtful perspective is that its unrenovated state provides a clear canvas without the premium of recent flips, while its established neighbourhood location offers stability without the price tag of trendier areas.
Key Details & FAQs
Key Characteristics & Appeal
This property is defined by its practicality and affordability. Its living space is compact, ranking below the city average, which translates to lower utility costs and less maintenance. The lot size is typical for the local area, providing adequate outdoor space without being burdensome. The home’s assessed value is significantly lower than the Winnipeg average, indicating a potentially low property tax burden. Its core appeal is as a foundational asset—it’s a chance to secure a detached home with land at an accessible threshold. It would suit first-time buyers building equity, investors looking for a rental property with a lower entry cost, or downsizers seeking to minimize expenses and upkeep. The unrenovated basement, while not a finished living space, offers ample storage or future potential.
Frequently Asked Questions
1. Is this a "fixer-upper"?
The listing notes the basement is unfinished and not renovated. While the main living areas' condition isn't detailed, the age of the home (1913) and the description suggest it likely requires updates and maintenance, aligning with its price point.
2. Why is the assessed value so much lower than the city average?
The assessed value reflects the property's modest size, age, and condition relative to the entire Winnipeg market. It is more in line with averages within the Inkster-Faraday neighbourhood, indicating it is priced appropriately for its local context.
3. What are the typical property taxes for a home with this assessment?
With an assessed value of $22,200, the annual property taxes would be considerably lower than for an average-priced Winnipeg home. An exact calculation requires the current year's mill rate, but the tax burden is a key financial advantage of this property.
4. Is the neighbourhood stable?
The home's metrics (like assessed value and lot size) are consistently around the average for both Polson Avenue and the wider Inkster-Faraday area. This consistency suggests a stable, established community without extreme highs or lows.
5. What was the last sold price?
Public data indicates a sale in June 2017 for an approximate range. For the exact historical sold price, you can request the information directly via the provided email service on the listing page.