Property Overview
This home at 587 Ashburn Street in Winnipeg’s Minto neighbourhood presents a specific and practical opportunity. Built in 1911, its 751 sqft living space is modest yet functional, ranking around the average for its immediate street. The lot size of 2,196 sqft is notably compact, even compared to others in the area. A key characteristic is its low assessed value, which sits well below averages for the street, neighbourhood, and city. This suggests a potentially lower property tax burden and an accessible entry point into the market. The home last sold in the 2023 price range of $200k-$250k.
Its appeal lies in its simplicity and affordability. It suits first-time buyers seeking a straightforward, no-frills starter home, or investors looking for a rental property with a lower initial investment and carrying costs. The compact lot also means less exterior maintenance, which could be a draw for those seeking a low-maintenance lifestyle or who are not interested in extensive gardening. A less obvious perspective is that a home of this age and value in an established neighbourhood may offer more potential for cosmetic personalization than a newer, more expensive property, allowing a buyer to add value over time without a prohibitive initial outlay.
Frequently Asked Questions
1. What does the low assessed value mean for me?
A lower assessed value typically translates to lower municipal property taxes, which reduces your annual carrying costs. It’s important to distinguish this from market value; the selling price will be determined by current market conditions.
2. Is the small lot size a major drawback?
It depends on your lifestyle. The smaller lot requires less maintenance and landscaping, which can be a significant advantage for those short on time or not interested in yard work. However, it offers limited space for expansions, large gardens, or outdoor entertaining.
3. The home is over 110 years old. What should I consider?
While older homes possess character, they often require more diligent maintenance. A thorough inspection is crucial to understand the condition of foundational elements, plumbing, electrical systems, and the roof. Budgeting for ongoing upkeep is a wise expectation.
4. Who would this property not suit?
It may not be ideal for growing families needing more space, or for buyers who prioritize modern, open-concept layouts which can be challenging to achieve in older, smaller floor plans. Those wanting a large private yard should also look elsewhere.
5. How can I find out the exact price it last sold for?
The provided sold price is a range based on public data. You can request the exact sale price by emailing the listing service via the "Get exact sold price history" button. They have stated they provide this information manually without using your email for marketing spam.