Property Overview: 687 Atlantic Avenue, Winnipeg
Key Characteristics & Buyer Profile
This is a compact, one-storey home built in 1945, situated on a standard-sized lot in the Inkster-Faraday neighbourhood. Its key characteristic is its modest scale, with 700 sqft of living space, which places it well below the average size for Winnipeg homes. The assessed value is notably low, reflecting its basic nature and smaller footprint. There is no basement, pool, or garage.
The primary appeal lies in its affordability and simplicity. It represents a very accessible entry point into homeownership, with extremely low property taxes due to its assessment. It would suit a highly budget-conscious buyer, such as a first-time purchaser prioritizing minimal carrying costs, or an investor looking for a straightforward rental property with a low initial outlay. The lot size is average for the immediate area, offering standard outdoor space for a home of this era. A less obvious perspective is that a home of this size and age, without a basement, presents a clear canvas for a potential expansion or rebuild in the future, with the land constituting a significant portion of the property's value.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value is based primarily on the home's very modest size (700 sqft), basic features, and age. It is consistent with values for similar small, no-basement homes in this area.
2. What are the implications of not having a basement?
It means there is no below-ground storage, utility, or living space. All mechanical systems, like the furnace and water heater, must be on the main floor, which slightly reduces livable square footage. It also eliminates concerns about basement flooding but removes potential for future underground expansion.
3. How reliable are the sold price ranges shown?
The ranges are derived from public data. For the exact historical sale prices, you must request them via the provided email service, which manually verifies the figures from official records.
4. Is the land size typical for the neighbourhood?
Yes. The lot of 3,782 sqft is very close to the average for both Atlantic Avenue and the wider Inkster-Faraday area, though it is smaller than the average lot across the entire city.
5. The home is older, but the ranking says it's "above average" for year built in Inkster-Faraday. What does that mean?
This indicates that, within the context of the Inkster-Faraday neighbourhood specifically, this home (built in 1945) is newer than many of its immediate peers, whose average build year is 1930. It is, however, older than the typical Winnipeg home.