Property Overview
This home at 363 Templeton Avenue presents a practical opportunity in Winnipeg's Margaret Park neighbourhood. Its key appeal lies in being a more affordable entry point into the housing market, underscored by its notably low municipal assessed value compared to most homes on its street and across the city. The 1,196 sqft living space is comfortably sized and ranks above average for the neighbourhood itself. Built in 1970, the house is neither the oldest nor the newest on the block, representing a typical vintage for the area.
The property suits first-time buyers or investors looking for a lower-cost footprint in a well-established area. Its smaller lot size (3,015 sqft) is a trade-off for the price point, meaning less yard maintenance but also less private outdoor space. A thoughtful perspective is that while the assessed value is low, the home sold in the $200k-$250k range in 2020, suggesting its market value may be significantly higher than its official assessment, which is an important detail for financing and property tax considerations.
Frequently Asked Questions
1. Why is the assessed value so much lower than the apparent market value?
Municipal assessments in Manitoba are based on a mass appraisal system and may not reflect current market sales. The 2020 sale price indicates the market value is likely higher, so the assessment primarily influences property taxes, not the home's selling price.
2. What does the smaller lot size mean for me?
The lot is below average in size for the street and city. This typically translates to less yard maintenance and lower landscaping costs, but it may limit options for expansions like large decks, pools, or additions, depending on zoning bylaws.
3. How does the living area compare to nearby homes?
While the home's footprint is smaller than many on Templeton Avenue, its living area is actually above the average for the broader Margaret Park neighbourhood. This suggests the home uses its space efficiently within a smaller lot.
4. Is the 1970 build date a concern?
Homes from this era are common in the area. While not historic, it does mean potential buyers should budget for updates to major aging components like roofing, windows, or the heating system, which may be nearing the end of their typical lifespans.
5. How can I find out the exact past sale price?
The precise sale price is not public record in Manitoba. The listing service provides the price range, but you must request the exact figure from the provided service, which verifies it manually from broker records.