Property Overview: 350 Belmont Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1946, situated on a standard-sized lot in the Jefferson neighbourhood. Its most defining characteristic is its modest scale, with a living area of 484 sqft, which is notably smaller than most homes on its street, in the area, and across Winnipeg. This is reflected in its assessed value, which is significantly below average at $14,100.
The primary appeal lies in its position as an entry-point property or a minimal-maintenance holding. It suits a very specific buyer: an investor looking for an affordable rental asset, a hands-on individual seeking a low-cost base for a potential expansion or rebuild, or a buyer with minimal space needs who prioritizes low property taxes and a straightforward footprint. Its value is fundamentally in the land and location, not the existing structure. A thoughtful perspective is that such a property can represent true affordability in a market where that is rare, offering ownership without the burden of a large mortgage, albeit with compromises on space and modern amenities.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value is based heavily on the size, condition, and features of the property. With a living area in the bottom 1% of the city and no noted basement or garage, the value of the existing structure is minimal, resulting in a low overall assessment.
2. What type of renovation or expansion potential does it have?
The lot size is average for the street, providing some room for an addition or redevelopment, subject to local zoning bylaws. Given the home's age and size, a major renovation or rebuild is a likely consideration for a buyer wanting more space.
3. Is this a good investment property?
For a cash-focused investor, the low entry price and assessed value could translate to a favorable rental yield relative to the cost, and very low property taxes. However, potential maintenance costs on an 80-year-old home and the niche rental market for very small units must be considered.
4. How reliable are the sold price ranges shown?
The ranges are estimates based on public data. To obtain the exact historical sale price, you must request it via the provided email service, which manually confirms the figure from official records.
5. How does the lack of a basement or garage impact utility?
This significantly reduces storage space and potential for a traditional laundry setup or workshop area. It underscores the property's nature as a compact living solution and may necessitate creative use of the main floor space or an outbuilding solution.