Property Overview: 610 Greenwood Place, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a practical opportunity in Winnipeg's Minto neighbourhood. Built in 1930, its 896 sqft living area is modest, ranking below average for its immediate street but closer to the typical size for the broader Minto area. The lot size of 2,836 sqft is notably compact for the street, which may mean lower maintenance but less private outdoor space.
The primary appeal lies in its position as an accessible, lower-cost entry point into the housing market. With an assessed value significantly below averages for both the street and the city, it suggests a potentially affordable purchase price and corresponding property taxes. Its last known sale was between $250k-$300k in 2021. This profile suits first-time buyers, investors seeking a rental property, or downsizers looking for a manageable, no-frills home. A thoughtful perspective is that a smaller, older home on a compact lot can offer financial efficiency and a simpler lifestyle, allowing resources to be directed toward customization, savings, or other priorities. Its average ranking within Minto for value and year built indicates it's a typical, unassuming property for the area rather than an outlier.
Section 2: Frequently Asked Questions
1. Is the assessed value the same as the market value?
No. The assessed value (listed as $24,900) is for municipal tax purposes. The market value (what a buyer would pay) is determined by recent sales, condition, and market demand. The home sold for an estimated $250k-$300k in 2021, which is a more relevant benchmark.
2. What does the "below average" ranking for lot size mean for me?
The lot is smaller than most on Greenwood Place. This typically translates to less yard maintenance and lower exterior upkeep costs. However, it also means limited space for expansions, large gardens, or extensive outdoor recreation.
3. How does the living area compare to a typical condo?
At 896 sqft, it's smaller than the average Winnipeg home but comparable to many one-bedroom or smaller two-bedroom condominiums. The difference is you own the land, albeit a compact parcel, and avoid monthly condo fees.
4. The home is 96 years old. What should I consider?
While the structure has proven durability, a home of this age will likely have older major systems (like plumbing, electrical, and heating). A thorough inspection is essential to understand the condition and anticipate potential updates or repairs.
5. Why is the assessed value so much lower than the city-wide average?
The city-wide average assessed value shown ($390k) includes all property types and sizes across Winnipeg. This home's assessed value is more aligned with the Minto area average ($25.5k), reflecting its smaller size, age, and the neighbourhood's market.