Property Overview: 655 Centennial Street, Winnipeg
Key Characteristics & Appeal
This 1956 three-level split home in J.B. Mitchell presents a practical and affordable entry into Winnipeg’s housing market. Its key characteristic is its compact, efficient footprint, with 868 sqft of living space and a recently renovated basement, offering functional living on a standard 4,078 sqft lot. The home includes a detached garage.
The primary appeal lies in its value proposition. The assessed value is notably modest compared to local and city-wide averages, suggesting a lower property tax burden and an accessible price point. For its immediate area, it’s a newer build than many neighboring homes, potentially meaning fewer age-related issues than older stock. Its recent sale history indicates steady, stable value.
This property would best suit first-time buyers or practical downsizers seeking a no-frills, manageable home. It’s for someone who prioritizes financial accessibility and a renovated basement over square footage, and who views a standard lot and detached garage as sufficient outdoor and storage space. It’s a straightforward home for those comfortable with a layout common to its era.
Frequently Asked Questions
1. Is the living space too small?
At 868 sqft, the living area is below average for the street, neighborhood, and city. However, the renovated basement adds functional space. It suits individuals, couples, or small families comfortable with efficient living.
2. Why is the assessed value so much lower than the city-wide average?
The city-wide average includes homes of all types and sizes across Winnipeg. This home’s assessment aligns more closely with its specific neighborhood (J.B. Mitchell) and street, reflecting its smaller size and local market conditions. This typically results in lower annual property taxes.
3. What does the “renovated basement” include?
The details of the renovation are not specified in the public data. A viewing or inquiry with the listing agent is necessary to determine the finish quality, permitted status, and specific features added.
4. How does the 1956 build year affect the home?
For J.B. Mitchell, this is a newer-than-average home, which can be positive. However, as a 70-year-old structure, prospective buyers should still prioritize a thorough inspection for foundational integrity, plumbing, electrical systems, and insulation, regardless of the basement updates.
5. What can the recent sold price history tell me?
The home sold in August 2020 for an estimated range. This provides a recent benchmark for its market value, showing price stability over a five-year period. To understand current value, this should be compared with recent sales of similar nearby properties.