Property Overview: 242 Newton Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 242 Newton Avenue in Margaret Park is a practical, no-frills property that represents an accessible entry point into the Winnipeg market. Its key characteristic is its modest 672 sqft living area, which is notably compact compared to most homes in the neighbourhood and city. Built in 1955, it sits on a roughly average-sized lot for the street. The appeal lies in its affordability and efficiency. With an assessed value significantly below the city average, it offers a lower barrier to entry for first-time buyers, investors, or those seeking to downsize without a large lot to maintain. Its recent sale history suggests it has been a turnover property, potentially appealing to renovators or those looking for a functional starter home to build equity. It would best suit a buyer with straightforward needs, a limited budget, and who values location over square footage.
A less obvious perspective is that its very compact size, while a limitation, forces efficient use of space and could result in lower utility and maintenance costs. Additionally, its assessed value is quite typical for its immediate street, indicating it fits right into the local economic fabric rather than being an outlier.
Section 2: Frequently Asked Questions
1. Is the house unusually small?
Yes. At 672 sqft, the living area is smaller than approximately 93% of homes on Newton Avenue and 98% of homes citywide. This is the property's most defining feature.
2. What is the likely buyer profile for this home?
It is most suited to first-time homebuyers, investors looking for a rental property, or individuals/couples downsizing who prioritize affordability and a manageable space over roominess.
3. How does its value compare to the area?
Its assessed value is around the average for Newton Avenue and the Margaret Park neighbourhood, but it sits well below the average assessed value for the entire City of Winnipeg. This indicates you are paying primarily for location within a specific, more affordable pocket.
4. Has the property value increased?
Based on the sold price ranges provided, the property likely appreciated between its 2017 and 2022 sales. For the exact sale prices to confirm the rate of increase, you must request the information via email from the listing service.
5. What are the less obvious considerations?
The lot size is fairly standard for the street but below the neighbourhood average. This means outdoor space is limited but not atypical for the immediate area. Also, as a home built in the mid-1950s, prospective buyers should budget for potential updates to major aging components like the roof, plumbing, or wiring.