Property Overview & Key Characteristics
This home at 375 Armstrong Avenue presents a solid, middle-of-the-road offering in Winnipeg's Margaret Park neighbourhood. Its key appeal lies in its established setting and practical proportions. With 1,031 sqft of living space on a 4,497 sqft lot, the property is consistently ranked as "around average" compared to its immediate street, local area, and the wider city. This indicates a home that fits comfortably within its community context, neither the largest nor the smallest. Built in 1965, it is a typical post-war home, suggesting a straightforward layout with potential for modernization.
The home’s assessed value is notably modest, but its recent sale in 2024 for an estimated $400k–450k places it in a much higher tier, ranking in the top 5-6% on its street. This significant gap between the official assessment and market price is a critical point for buyers to investigate, as it may reflect recent upgrades, a hot past market segment, or other factors not captured in the assessment.
This property would suit a first-time buyer or a downsizer looking for a manageable, no-surprises home in a mature neighbourhood. It’s for someone who values space that is adequate without being excessive and prefers a setting where the home’s metrics are very much in line with the surrounding area, offering a sense of stability and predictability.
Frequently Asked Questions
1. Why is there such a large difference between the assessed value (~$33k) and the recent sold price estimate ($400k–450k)?
This is a common point of confusion. The assessed value is for municipal tax purposes and is often significantly lower than market value, especially for older homes in established neighbourhoods. The recent sale price is what a buyer actually paid, reflecting current market conditions, the home's condition, and any updates.
2. How does the size of this home compare practically to others in the area?
At 1,031 sqft, it is slightly below the average for Margaret Park (~1,131 sqft) but very close to the citywide average for comparable homes. This means you’re getting a standard amount of space for Winnipeg, but it may feel cozier than some larger neighbouring homes.
3. What does the "around average" ranking for most metrics actually mean for a buyer?
It signals a property that is deeply typical for its location. This can be an advantage, as it suggests the home should be easier to value, insure, and eventually resell, as it doesn't have unusual features that could complicate comparisons. The trade-off is it may lack standout characteristics.
4. The land is ranked "below average" for the Margaret Park area. Is that a concern?
The lot size is below the local area average but still a decent size at nearly 4,500 sqft. It means your yard may be somewhat smaller than others nearby but is unlikely to be unusually small. It's a point to consider if outdoor space is a top priority.
5. How can I find out the exact sold price from 2024?
The listing service provides an estimated range. To get the precise sale price, you must request it directly from the source (as noted on the detail page) by providing your email. They provide this data manually and state they do not use the contact for unsolicited marketing.