551 Centennial Street

Property Overview: 551 Centennial Street, Winnipeg

Section 1: Key Characteristics & Appeal

This one-storey home in the J.B. Mitchell neighbourhood presents a practical and straightforward opportunity. Its key appeal lies in its balance of a generous, above-average lot size for the immediate area and a recently renovated basement, offering potential for additional living space. With a living area of 936 sq ft, the house itself is modest and below average in size for Winnipeg, suggesting a cozy, manageable footprint. The detached garage and the home’s vintage 1956 construction are characteristic of the area.

The property would suit first-time buyers or downsizers looking for an affordable entry into the market with a solid land base and some modernized updates. Its assessed value is consistently around the average for its street, neighbourhood, and city, indicating a stable, no-surprises valuation. A thoughtful perspective for a buyer is to see the smaller main floor not as a limitation, but as a chance for efficient living, with the renovated basement and larger lot providing the flexibility for future projects or outdoor space—a trade-off that can be more valuable than a larger, older house on a smaller plot.

Section 2: Frequently Asked Questions

1. Is the house smaller than most in Winnipeg?
Yes. At 936 sq ft, the living area is below the city-wide average for comparable homes. This makes for a more manageable and efficient living space, with heating and maintenance costs likely on the lower end.

2. What is the standout feature of the property?
The lot size. At just over 5,100 sq ft, the land area is notably larger than many lots on Centennial Street and in the J.B. Mitchell area, offering more private outdoor space than is typical for the location.

3. How does the assessed value compare?
The assessed value of $39,100 is consistently around the middle of the pack—neither unusually high nor low—when compared to homes on its street, in the neighbourhood, and across Winnipeg. This suggests a stable, market-aligned municipal valuation.

4. When was it last sold and for roughly how much?
The home sold in August 2021. Public data indicates a sold price range between $33,500 and $36,500 at that time. The exact sale price can be requested from the listing source.

5. What is less obvious about this property’s context?
While the house was built in 1956, it is actually newer than many in the J.B. Mitchell neighbourhood, ranking in the top 14% there for year built. This is a subtle point that may indicate slightly newer construction materials or systems compared to immediate neighbours.