Property Overview: 602 Greenwood Place, Winnipeg
Key Characteristics & Appeal
This is a compact, 616 sqft home built in 1940 on a 2,142 sqft lot in the Minto neighbourhood. The data reveals a property of contrasts. Its assessed value ($200k) is significantly higher than most immediate neighbours, yet it sits well below the Winnipeg city-wide average for similar homes. This suggests it may offer unique value or features not fully captured by the standard metrics.
The primary appeal lies in its efficiency and potential as an affordable entry point into the market. It suits buyers with a clear vision: first-time purchasers, downsizers, or practical investors looking for a manageable footprint with lower maintenance costs. The lot, while smaller than most in the area, still provides outdoor space without the burden of extensive upkeep.
A less obvious perspective is its statistical uniqueness. This home ranks in the top 1% for its high assessed value relative to its own street, indicating it stands out from its direct peers. This could reflect meaningful updates, a premium location within the block, or a particular desirability that isn't immediately apparent from the basic specs. For the right buyer, it represents an opportunity to own a distinctly valued asset in a neighbourhood of more uniformly priced properties.
Frequently Asked Questions
1. Why is the assessed value so much higher than neighbouring homes?
While the exact reason isn't specified, a higher assessment often reflects improvements, updates, or specific attributes that the assessor has valued above the neighbourhood baseline, such as renovations, additions, or superior condition.
2. Is the living area too small for comfortable living?
At 616 sqft, the home is significantly smaller than averages for the street, area, and city. It would best suit individuals, couples, or those who prioritize efficient, minimalist living over spaciousness.
3. What can the recent sale price history tell me?
The home sold in 2022 for an estimated $200k–250k and again in 2024 for $250k–300k. This upward trend suggests growing market interest or value realization, but for the exact sale prices, you must request the details via email from the listing service.
4. How does the lot size impact potential?
The land area is smaller than 99% of comparable lots across all measured scales. This limits possibilities for large expansions or additions but also translates to less yard work and potentially lower property taxes tied to land value.
5. What is the significance of the "neighbourhood analysis page" mentioned?
This tool allows you to see this property on a map alongside nearby houses, visually comparing key metrics like year built, size, and value. It’s crucial for understanding the specific context of how this home fits into its immediate surroundings, beyond the raw numbers.