Property Overview: 684 Atlantic Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1946, offering 640 square feet of living space with a renovated basement. It sits on a standard city lot of approximately 3,500 square feet. The home’s assessed value is notably low, at $22,800, which is above average for the immediate Inkster-Faraday area but well below the Winnipeg city average. It last sold in 2021 for an estimated $23,500–$26,500.
The primary appeal lies in its affordability and efficiency. It represents a very accessible entry point into homeownership, with property taxes that would be minimal due to the low assessment. The renovated basement adds functional space, making the home feel larger than its main-floor square footage suggests. It would suit first-time buyers, investors looking for a low-cost rental property, or downsizers seeking a simple, manageable home without financial strain. A less obvious perspective is that its "below average" size and value for the city at large could be seen as an advantage, insulating it from broader market volatility and offering a truly budget-conscious option in a high-cost era.
Frequently Asked Questions
1. Is the house actually livable at 640 sq ft?
Yes, especially with the additional renovated basement space. It’s a compact layout ideal for one or two people. Buyers should be comfortable with efficient use of space, similar to a large apartment.
2. Why is the assessed value so much lower than the city average?
The assessed value reflects the home’s smaller size, age, and the market values within its specific neighbourhood. It indicates a more affordable property tax burden compared to most of Winnipeg.
3. What does "above average for the area" in the assessment mean?
While the home is small, its $22,800 assessment is higher than many neighbouring properties. This suggests the assessor recognizes factors like the renovated basement, potentially placing it in a better state of repair than some direct comparables on Atlantic Avenue.
4. Are there any major costs I should anticipate?
Given the home’s age (80 years), a thorough inspection is crucial. While systems may have been updated, budgeting for ongoing maintenance typical of an older home is wise. The lack of a garage is also a consideration for parking and storage.
5. How can I get the exact past sale price?
The exact sold price is not publicly listed. As noted on the detail page, you can request it by email from the service; they provide the accurate figure manually without using your email for marketing.