Property Overview: 361 Templeton Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 361 Templeton Avenue in Margaret Park presents a specific and practical value proposition. Built in 1970, its 1,196 sqft living space is modest but functional, ranking around average for its immediate street and the wider city. The standout characteristic is its very low assessed value ($24,100), which places it in the bottom 15-20% of homes locally and citywide. This is coupled with a notably smaller lot size (2,805 sqft) compared to area norms.
The appeal lies in its position as an accessible entry point into the Winnipeg market. It suits first-time buyers or investors seeking a lower-cost footprint in a central neighbourhood, where the priority is land ownership and location over size or modern features. The recent sale history suggests it’s a fixer-upper or value-play property. A thoughtful perspective is that this smaller lot and home could mean lower maintenance costs and property taxes, offering a simpler, more manageable homeownership experience. It would not suit buyers looking for ample outdoor space, new builds, or who are not prepared for potential updates.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value is based on municipal evaluation, which considers factors like lot size, living area, age, and condition. This home’s below-average lot size and modest specifications result in a significantly lower assessment than typical Winnipeg homes.
2. What does the sold price history indicate about the property’s condition?
The home sold between $250k-$300k in 2023 and $200k-$250k in 2019. This price range, combined with the very low assessed value, strongly suggests it is a basic or fixer-upper property, not a renovated or modernized home.
3. Is the smaller lot size a major disadvantage?
It depends on your needs. While it offers less private outdoor space than most area homes, it also translates to less yard maintenance and can contribute to the lower property tax burden. For those prioritizing a low-maintenance lifestyle, it can be a practical trade-off.
4. How does this home compare to others on Templeton Avenue?
The data shows it has a smaller living area and a significantly smaller lot than the street average. Its age is typical, but its assessed value is among the lowest on the street. Essentially, it’s a more compact and value-oriented option within the same block.
5. Who would this property be most suitable for?
It is best suited for budget-conscious first-time buyers, practical downsizers, or investors looking for a lower-priced rental property in a central location. It is less ideal for families needing significant indoor or outdoor space or buyers wanting a move-in-ready home without renovation projects.