Property Overview: 271 Brooklyn Street, Winnipeg
Key Characteristics & Appeal
This is a compact, one-and-three-quarter storey home in Winnipeg's King Edward neighbourhood, built in 1906. With 774 square feet of living space and an unrenovated basement, it sits on a modest 2,295 sqft lot. The home's most defining characteristic is its exceptionally low municipal assessed value, which ranks in the bottom 1-2% compared to its street, neighbourhood, and the entire city. It last sold in mid-2019 for a very modest price range.
Its primary appeal lies in its potential as an entry point into homeownership with minimal property tax overhead, or as a strategic investment property. It suits a very specific buyer: a hands-on renovator or investor looking for a low-cost canvas, someone seeking the absolute lowest-priced detached home option in the city, or a buyer prioritizing lot location over the condition of the existing structure. A less obvious perspective is that such a low assessment, while saving on annual taxes, can also indicate significant deferred maintenance or functional obsolescence that requires substantial capital to address. Its value is almost entirely in the land and location, not the current building.
Frequently Asked Questions
1. Why is the assessed value so low?
Assessed values are based on market value and comparable sales. A value this far below area averages typically reflects the home's age, compact size, condition, and any functional issues that significantly impact its market price compared to other properties.
2. What does "basement, not renovated" imply?
This usually indicates an original or dated basement with older finishes, mechanical systems (like heating or plumbing), and likely limited moisture protection or insulation. It should be inspected thoroughly and budgeted for potential upgrades or repairs.
3. Who would this property be a good fit for?
It is best suited for an experienced renovator or investor comfortable with a major project. It could also serve a buyer with a very tight budget for a purchase price and annual taxes, who is willing to live in basic conditions while planning gradual improvements.
4. How reliable are the sold price ranges shown?
The ranges are derived from public data. For precise historical sale figures, you must request the exact data via email, as the listing service manually verifies and provides this information.
5. The nearby similar-valued properties are all condo addresses. Is this a condo?
No, this is a detached house. The similar assessed values shown are for condominium units, highlighting how uniquely low this property's assessment is for a standalone house. This comparison underscores the atypical value proposition of this home.