Property Overview & Key Characteristics
10 Metz Street is a 1,032 sqft bungalow built in 1970, situated on a 5,499 sqft lot in Winnipeg's Minnetonka neighbourhood. Its core appeal lies in its position as a modest, entry-level home that presents a clear value proposition within its immediate area. The home's assessed value ($33,600) is notably below average for both its street and the Minnetonka area, which could indicate a lower property tax burden and an opportunity for buyers comfortable with a home that may require updates. The lot size is fairly standard for the street but smaller than many in the wider area.
This property would suit first-time buyers or practical investors looking for a foothold in the market without a premium price tag. Its recent sale in the $300k-$350k range (2023) suggests it functions as an affordable, no-frills option. A thoughtful perspective is that while the home ranks below area averages in size and value, it offers stability as a typical example of its street's housing stock from the 1970s, potentially simplifying renovations with readily available materials and designs. It’s a home for those who prioritize location and lot ownership over modern finishes or above-average square footage.
Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sale price?
Assessed values in Manitoba are primarily for municipal tax purposes and often lag behind current market sale prices, which are determined by buyer demand. A sale price from 2023 reflects the market at that time, while the assessment is an administrative valuation.
2. What does it mean that the home is "below average" for the area in several metrics?
This statistical comparison shows that compared to other homes in Minnetonka, this property is somewhat smaller in both living area and lot size. This typically translates to a more affordable price point, but it's wise to investigate if the lower averages are due to many larger, newer homes in the area or other factors.
3. Is the 1970 build date a concern?
A home from 1970 is of a common vintage in Winnipeg. Key considerations would be the age and condition of major systems like the roof, windows, plumbing, and electrical, which may be original or have been updated over the last 56 years. A thorough inspection is essential.
4. How reliable are the sold price ranges shown?
The ranges are based on publicly available data, which in Manitoba does not disclose exact sale prices. The provided range is an estimate. You can request the exact sold price history via email from the source for confirmed figures.
5. The home sold in 2023. What should I consider about a relatively recent resale?
A quick turnaround can be neutral, but it warrants asking why the previous owners sold after a short period. It could be due to personal circumstances, or it might prompt a closer look for any undisclosed issues. Reviewing the listing history and any visible changes made since 2023 would be prudent.