183 Bronx Place

Property Overview: 183 Bronx Place, Winnipeg

Key Characteristics & Buyer Appeal

This property presents a distinct value proposition centered on its exceptionally low municipal assessed value of $20,400, which places it in the bottom 1-2% of comparable homes on its street, in the Kildonan Drive area, and citywide. The appeal lies almost entirely in its price point and the potential it represents. With a land size of 3,089 sq ft that is also below local averages, it is a modest parcel. Historical data shows a sale in the $21.5k-$24.5k range in 2016, indicating long-standing affordability.

This home would suit a very specific type of buyer: investors or hands-on owner-occupants looking for an ultra-low-cost entry into the Winnipeg market. It is a candidate for a hold-and-land-bank strategy, a complete renovation project, or potentially a tear-down, given the land value may constitute a significant portion of the total price. It is not suited for buyers seeking move-in-ready condition or standard neighborhood amenities, as the data suggests it is an outlier in its immediate vicinity.

A thoughtful perspective: in a market where land is often the appreciating asset, acquiring a property at this price point effectively minimizes the risk associated with the structure itself. It allows a buyer to separate the value of the lot from the cost of the building, providing a clear foundation for future investment decisions.

Frequently Asked Questions

1. Why is the assessed value so low compared to nearby homes?
The assessed value is typically based on factors like lot size, building size, age, and condition. Its ranking in the bottom percentile suggests the structure may be significantly smaller, older, or in need of more substantial repairs than surrounding properties.

2. What type of renovation or repair budget should I anticipate?
Given the drastic difference in assessed value, buyers should budget for a major renovation or even a full rebuild. A thorough professional inspection is essential to understand the scope and cost of bringing the property up to standard.

3. Is this a good investment for a rental property?
Potentially, but only after significant capital improvement. As-is, it would likely not meet minimum rental standards. The investment case rests on the total cost of purchase plus renovation being low enough to create positive cash flow or future equity.

4. How can I find out the exact historical sale price?
The exact sold price is not publicly listed in this data. You can request it by email via the "Get exact sold price history" button on the listing page. The service provides the accurate figure manually and does not use email addresses for unsolicited marketing.

5. What are the risks of buying a property with such a low assessment?
The primary risks are hidden repair costs, potential difficulty securing standard financing, and the possibility of it being ineligible for certain types of insurance without upgrades. It requires extensive due diligence.