Property Overview: 231 Forrest Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1920, situated on a modest lot in the Jefferson neighbourhood. Its key characteristic is its exceptionally small size—at 548 sqft of living space, it ranks in the bottom 1% compared to homes locally and citywide. The assessed value is correspondingly low, placing it well below area averages. The home does feature a renovated basement, adding functional space. There is no garage or pool.
The primary appeal lies in its position as one of the most affordable entry points into homeownership in Winnipeg. It represents a minimal property tax burden and could suit a specific type of buyer: someone seeking an ultra-low-cost base to live in while building equity, an investor looking for a straightforward rental property with a low entry cost, or a buyer viewing it purely as a land value play in an established neighbourhood. Its recent sale history suggests it trades as a value-tier asset rather than a typical family home. This isn't a property for those needing space; its appeal is almost entirely financial and utilitarian, offering a foothold in the market with very low overhead.
Frequently Asked Questions
1. Why is the assessed value so much lower than the average home?
The assessed value reflects the property's very small size (both the building and the lot), its age, and its basic characteristics. It is consistently ranked in the bottom 3% of homes for value in its immediate area and citywide.
2. Who would this home be suitable for?
It would best suit a minimalist single person or couple, a first-time buyer prioritizing absolute lowest cost over space, or an investor. It is not suited for families or anyone requiring ample living or storage space.
3. The data shows it's "below average" in every category. Is that a bad sign?
Not necessarily for the right buyer. It confirms this is a niche, value-oriented property. Its below-average metrics in size and value are precisely what create its affordability. The key is to align expectations with the physical and financial reality of the home.
4. What does having a "renovated basement" mean for such a small house?
It significantly increases the usable space, potentially allowing for a separate living area, storage, or utilities. In a 548 sqft main floor, a finished basement is a crucial functional upgrade.
5. How reliable are the sold price ranges shown?
The ranges are based on public data. For precise historical sale prices, you must request the exact figures via the provided email service, as the listing agent verifies and supplies those details manually.