Property Summary: 649 Boyd Avenue, Winnipeg
Section 1: Key Characteristics & Buyer Profile
This is a notably compact and historic one-storey home in the Inkster-Faraday neighbourhood. Its key characteristic is its modest scale: with just 502 sqft of living space, it sits in the bottom 1% of homes in the city for size. The lot is also smaller than average for the area at 2,276 sqft. Built in 1907, the property carries a very low municipal assessed value of $8,600, which is significantly below typical city and neighbourhood benchmarks.
The appeal lies in its potential as an ultra-affordable entry point into homeownership or as a minimal-maintenance property. It suits a very specific buyer: someone seeking the lowest possible price point, perhaps an investor looking for a rental property with minimal capital outlay, or a hands-on buyer willing to live simply and potentially renovate or expand over time. It is not suited for those needing standard family space or who prefer modern builds and finishes. A thoughtful perspective is that such a property can represent pure land-value opportunity in a city, where the future potential may lie more in the lot than the existing structure.
Section 2: Frequently Asked Questions
1. Why is the assessed value so low compared to other homes?
The assessed value is based primarily on the property's very small size (502 sqft), age (1907), and the characteristics of similar nearby homes. It reflects the municipal valuation for tax purposes, not necessarily the current market sale price.
2. What type of work might this home need?
Given its age of over 115 years, prospective buyers should budget for potential updates to foundational elements, wiring, plumbing, and insulation. A thorough inspection is essential to understand the condition and any immediate needs.
3. Is there potential to expand the living space?
The smaller lot size (2,276 sqft) may limit expansion options compared to larger standard lots. Any addition would require careful planning to ensure compliance with zoning bylaws regarding setbacks and lot coverage.
4. How does the sold price history work?
The listed sold price is a range based on public data. To obtain the exact historical sale price, you must request it via email from the site, as they manually verify and provide the precise figure.
5. What are the comparable properties nearby?
Similar nearby homes on Boyd Avenue are also historic, smaller properties. Listings with similar assessed values (like those on Maryland St. or Cumberland Ave.) are typically very compact units, often in multi-family buildings or older, modest houses in central neighbourhoods.