Property Overview: 289 Margaret Avenue, Winnipeg
Key Characteristics & Appeal
This home at 289 Margaret Avenue is a modest, 816 sqft bungalow built in 1946, situated on a 3,984 sqft lot in the Margaret Park neighbourhood. Its key characteristic is its value positioning. With a recent sold price between $200k-$250k and a $210k assessed value, it sits well below the city-wide average for homes. The data indicates it ranks in the bottom tiers for size and lot dimensions compared to both local and city-wide peers, but this translates directly to its accessibility.
The appeal lies in its function as a practical entry point into the Winnipeg housing market. It suits first-time buyers, investors seeking a rental property, or downsizers looking for a manageable, low-maintenance footprint without a high price tag. A thoughtful perspective is that a smaller, older home like this on a standard lot offers the "blank slate" potential that many newer, maximized infill properties do not. It presents an opportunity for personalization or future expansion (subject to permits and feasibility) that might be more costly to undertake on a already-renovated or larger property.
Frequently Asked Questions
1. Is this home significantly smaller than others in the area?
Yes. At 816 sqft, the living area is below the average for Margaret Park (approx. 1,084 sqft) and well below the Winnipeg city average.
2. What does the assessed value tell me about the property taxes?
The assessed value of $210k is the city's valuation for taxation purposes. You can estimate annual property taxes by applying the current municipal tax rate to this value. It's notably lower than the city-wide average assessed value.
3. The home was built in 1946. What should I consider?
As an 80-year-old home, a thorough inspection is essential. While it offers classic character, potential buyers should budget for updates to major aging systems (like plumbing, electrical, or the roof) and anticipate energy efficiency that may not match modern standards.
4. The lot seems smaller than average. Is that a disadvantage?
The lot is under 4,000 sqft, which is smaller than many in the city. This means less exterior maintenance and yard work, which can be a plus for some. However, it also means limited space for large additions, pools, or extensive landscaping.
5. How can I find out the exact price it last sold for?
The provided sold price is a public data range. To obtain the exact sale price from the 2023 transaction, you must request it directly via the email service mentioned on the listing page, as this information is not publicly disclosed in full detail.