Property Overview: 449 Henry Avenue
Key Characteristics & Appeal
This two-storey home, built in 1986, presents a practical opportunity in Winnipeg's Logan-C.P.R. neighbourhood. Its key appeal lies in a balance of space, condition, and value. The 1,214 sqft living area is above the citywide median, and the property sits on a notably large lot of over 2,800 sqft, offering ample outdoor space relative to many urban lots. A significant feature is the renovated basement, adding immediate functional living space without the need for a major project.
The home’s assessed value positions it as a highly affordable entry point within Winnipeg, ranking in the top 8% of the city for low property tax assessment. This creates a compelling value proposition, especially when combined with the renovated basement and larger lot. It would suit first-time buyers seeking a move-in-ready home with extra space to grow into, or value-focused investors looking for a property with a strong fundamental ratio of land and living space to cost. Its appeal is grounded in practicality rather than historic charm or luxury finishes, offering a solid foundation for comfortable living.
Frequently Asked Questions
1. What does the "renovated basement" typically include?
While specifics should be verified by a viewing, a renovated basement in a home of this era and value range often means it has been finished into a livable space, such as a family room, additional bedroom, or laundry area, with proper walls, flooring, and ceiling. It indicates the major work of making the space usable is already complete.
2. The assessed value seems very low. Does that mean the property taxes are low?
Yes, property taxes are directly tied to the assessed value. A low assessment is a key driver for low annual property taxes, which is a significant and ongoing cost savings for the owner.
3. There's no garage. Is street parking readily available?
The property listing does not mention a private garage. Given the large lot size, there may be potential for adding a parking pad or structure, subject to city bylaws. Current parking would rely on street availability, which should be observed at different times of day.
4. How does the age of the home (1986) affect maintenance?
Homes from the 1980s are often beyond the lifespan of original major components like the roof, windows, or furnace. A key question for a buyer is which of these big-ticket items have already been updated, as this will significantly impact near-term maintenance budgets.
5. The comparable listings show a wide range of assessed values. Why is that?
The "similar assessed value" list is based solely on the municipal tax assessment figure, not market value, style, or condition. It includes a mix of property types across the city. More relevant comparisons are the "nearby properties" on the same street, which give better context for the immediate neighbourhood.