Property Summary: 642 Minto Street, Winnipeg
Section 1: Key Characteristics & Appeal
This property presents a distinct profile centered on its generous lot. The home itself is compact at 609 sq ft, making it one of the smaller residences on the street, in the Minto area, and across Winnipeg. It is also one of the older homes on the block, built in 1919. However, its primary asset is a land area of 3,943 sq ft, which is notably larger than most neighbouring and area lots. The assessed value is modest and in line with local averages for Minto, but sits well below the city-wide average.
The appeal lies in a classic "land value" proposition. It suits a buyer with a vision for the space itself—whether that's extensive gardening, outdoor living, or future expansion—who is comfortable with a smaller, character home as a starting point. It would be ideal for a first-time buyer or an investor seeking an entry point into the market where the land represents a significant portion of the asset's value. The recent sale history (2022, in the $250k-$300k range) suggests it's a actively traded, affordable property for the area.
Section 2: Frequently Asked Questions
1. Is the house in livable condition, or is this a teardown?
The data indicates a sale in 2022, which strongly suggests the home is habitable and has been used as a residence in the recent past. However, given its age and size, a prospective buyer should budget for updates or maintenance typical of a century-old home.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the local market in Minto, where values are generally lower. It accounts for the home's smaller size, age, and the area's overall property values, not just the lot size. The city-wide average is skewed higher by newer, larger homes in more expensive neighbourhoods.
3. Can the lot be subdivided for development?
This is a key question given the lot size. The answer depends entirely on current City of Winnipeg zoning bylaws, which are not provided in this data. A buyer must consult the official zoning map and regulations to investigate any potential for subdivision or building a secondary suite.
4. How does the 2022 sale price compare to the current assessed value?
The assessed value of $23,500 is for taxation purposes and is not a market valuation. The 2022 sale price ($250k-$300k) is the actual market value from that time. This large difference is normal and highlights that tax assessments should not be used to estimate sale price.
5. What are the implications of it being a much smaller home than others nearby?
While it may mean less interior space, it can also result in lower utility costs and property taxes relative to neighbours. The smaller home footprint also maximizes the usable yard space from that larger lot, which could be seen as an advantage for privacy or outdoor use.