Property Summary: 649 Greenwood Place, Winnipeg
Section 1: Key Characteristics & Appeal
This home is a classic, compact bungalow built in 1940, situated on a generously sized lot in the Minto neighbourhood. Its primary appeal lies in its value proposition and land potential. With a living area of 696 sq ft, it is notably smaller than most comparable homes locally and city-wide, indicating a cozy, efficient layout. However, it compensates with a land area of 4,355 sq ft, which is significantly above average for the Minto area. This presents a clear opportunity for expansion, a large garden, or future development, subject to zoning.
The assessed value is modest, and recent sale history suggests it is positioned as an accessible entry point into the Winnipeg market. This property would best suit a first-time buyer, an investor, or a hands-on owner looking for a land-value play. Its appeal is practical rather than luxurious, ideal for someone comfortable with a smaller original footprint who sees potential in the substantial lot. A thoughtful perspective is that while the home itself ranks below average in size, its lot size ranks in the top 12% for the neighbourhood, making it a standout in that specific, valuable metric.
Section 2: Frequently Asked Questions
1. Is the house too small?
At 696 sq ft, the living space is significantly smaller than the average home in the area. It would suit a single person, a couple, or someone willing to renovate or expand. The generous lot size is a key feature that offsets the compact interior.
2. What does the sold price history indicate?
The home has sold three times since 2016, with the latest sale in 2024 in the $300k-$350k range. This shows steady market activity and price appreciation over the past eight years, reflecting sustained demand for properties in this category.
3. How does the lot size compare, and why does it matter?
The 4,355 sq ft lot is well above the Minto neighbourhood average. This is a major asset, offering more outdoor space, privacy, and future potential than many nearby properties, which often have smaller lots.
4. What is the neighbourhood context of Minto?
Minto is an established, central neighbourhood. The property’s metrics—like its year built and assessed value—are generally around average for this specific area, meaning it is typical of the community’s older, modestly sized homes.
5. How current are the assessed value figures?
The assessed value of $26,700k is for municipal tax purposes and is typically based on historical market data. It is often lower than the current market value, as evidenced by the recent sale price, and should not be used alone to determine the home's worth.