Property Overview & Key Characteristics
This home at 399 Arnold Avenue in Winnipeg's Lord Roberts neighbourhood presents a classic, no-frills opportunity. Its key appeal lies in being an affordable entry point into a mature, established area. Built in 1912, the 720 sqft house sits on a roughly 2,580 sqft lot, with both the living space and the official assessed value ranking below average for the city, but more in line with its immediate street and neighbourhood.
This property would suit a pragmatic first-time buyer, an investor looking for a straightforward rental, or someone seeking a modest footprint with lower carrying costs. Its value is rooted in location and lot potential rather than in its current size or condition. A thoughtful perspective is that a home of this vintage and scale offers a chance to customize and renovate incrementally without the pressure of a massive, expensive structure, making it a canvas for a hands-on owner.
Frequently Asked Questions
1. Is this a "tear-down" or a renovation project?
Given its age (1912) and below-average living area, some buyers may consider replacement. However, its assessed value and size are comparable to many homes on the street, suggesting it fits the local fabric. A professional inspection is crucial to determine if renovation is viable.
2. Why is the assessed value so much lower than the last sold price range?
The assessed value for taxation purposes ($21.4k) is often significantly lower than market value. The home sold for an estimated $200k-$250k in 2023, which is a more relevant indicator of its market price.
3. What are the advantages of a smaller, older home like this?
Lower property taxes, manageable utility costs, and less space to maintain are practical benefits. It also offers the character of an older neighbourhood and the potential to increase value through strategic updates.
4. How does the lot size compare?
At 2,582 sqft, the lot is around average for Lord Roberts but below the city-wide average. This is typical for central, established neighbourhoods and is sufficient for outdoor space, gardening, or potential additions, subject to zoning.
5. Can I get the exact historical sale prices?
The public data shows price ranges. The listing service offers to provide the exact sold prices via a manual email request, promising a reply by the end of the same day without using your email for unsolicited marketing.