Property Overview: 653 Boyd Avenue, Winnipeg
Key Characteristics & Buyer Profile
This is a compact, one-and-a-half storey home built in 1905 on a modest lot in the Inkster-Faraday neighbourhood. With 869 square feet of living space, it offers a smaller footprint that is fairly typical for its immediate area but below the citywide average. The home has a basement, but it is noted as not being renovated, and there is no garage or pool.
The primary appeal lies in its exceptionally low financial barrier to entry, as evidenced by its assessed value of $8,600, which places it in the bottom 5% of similar homes in Winnipeg. This is a property defined by fundamentals: it provides basic shelter and ownership at a minimal cost. It would suit a very specific buyer, such as an investor looking for an ultra-low-cost rental property, a hands-on owner intending a full gut renovation, or someone seeking the absolute most affordable path to homeownership who is comfortable with a project. Its older age and unrenovated state mean it is not a move-in-ready home, but rather a foundation for future potential.
Frequently Asked Questions
1. Why is the assessed value so low compared to other homes?
The assessed value is based on the property's current state, size, and market factors. Given its age, smaller size, unrenovated condition, and the metrics showing it ranks in the bottom 1-5% of homes citywide for value, the assessment reflects its position as a minimal-cost entry point into the market.
2. What does "basement, not renovated" typically imply?
This usually indicates the basement is in original or utilitarian condition. Buyers should anticipate a space that is functional for storage or mechanical systems but not finished as living space, and it may have older infrastructure, moisture concerns, or require significant work to modernize.
3. Who might be interested in a property like this?
This property is most suited for investors, flippers, or extremely budget-conscious buyers willing to undertake renovations. Its low cost basis is its main feature, making it a potential candidate for a complete overhaul or a long-term hold as a rental, assuming the investment in repairs aligns with the area's rental market.
4. How does the living space compare to the neighbourhood?
At 869 sqft, it is slightly below the average for similar homes in Inkster-Faraday (~1,047 sqft). This suggests it is on the smaller side even for this area, which generally features more compact, older homes, so expectations should be set for cozy living quarters.
5. What can recent sale prices on the street tell me?
A nearby reference property at 649 Boyd Avenue sold for between $6,500 and $9,500 in late 2020. This provides a very recent benchmark, indicating that properties in this immediate vicinity transact at a very low price point, which supports the current assessed value.