102 Wilmot Place

Property Overview: 102 Wilmot Place, Winnipeg

Key Characteristics & Appeal

This 1,223 sqft home, built in 1987, presents a practical opportunity in Winnipeg's McMillan neighbourhood. Its key appeal lies in its position within a well-established area, offering a balance of space and manageability. The home ranks highly for its location within the neighbourhood and the wider city, suggesting a desirable setting. However, the assessed value is notably modest compared to many nearby properties, which may indicate a value proposition for the right buyer.

The property would suit a first-time homebuyer, an investor, or a downsizer looking for an entry point into a solid neighbourhood without a premium price tag. Its size is functional for a small household, and the 1987 build date suggests it may have modern fundamentals while potentially requiring updates. A thoughtful perspective is that this home could act as a strategic foothold in an area with a wide range of property values, from historic estates to more modest homes, offering the benefits of the location while allowing for personalization over time.

Frequently Asked Questions

1. Why is the assessed value relatively low compared to nearby homes?
While located in a top-ranked neighbourhood, this specific property has a more modest assessed value. This can be due to a variety of factors including the home's size, condition, specific features, or recent market activity for comparable properties, making it a different type of opportunity than the larger, historic homes in the area.

2. What does the "Sold" price from 2022 indicate?
The home sold for $20.5k in February 2022, which is below its current assessed value. This typically suggests a non-arms-length transaction, such as a transfer between family members, and does not reflect the open market value at that time.

3. Are there any major property features like a garage or basement?
According to the listing data, the property does not have a garage or a finished basement. Buyers should verify this during a viewing and consider implications for storage and living space.

4. How does the living area compare to the neighbourhood?
At 1,223 sqft, the living area is near the median for both the neighbourhood and Winnipeg overall. It is a comfortably sized home but is smaller than many of the historic and larger properties referenced in the nearby listings.

5. What is the significance of the provided "Similar Assessed Value" properties?
These listings show other homes in Winnipeg with the same municipal assessed value. They are useful for understanding what price point this property sits at for tax purposes, but they are in different neighbourhoods, underscoring that location is a primary driver of market value beyond the assessment.