Property Overview: 672 Valour Road, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 672 Valour Road in the Minto neighbourhood is a study in contrasts, offering distinct advantages within a classic Winnipeg streetscape. Built in 1911, it is a century-old property on a modest 2,200 sqft lot. Its primary appeal lies in its efficient use of space: with 1,088 sqft of living area, it ranks in the top 27% for size on its own street, offering more interior space than many immediate neighbours. This suggests a well-utilized floor plan that maximizes the footprint.
The home’s assessed value is notably low, placing it well below the city-wide average. This creates a compelling entry point into the market, particularly for a first-time buyer or an investor seeking a lower-cost property in a central location. It suits a practical buyer who values character and location over a large yard or modern construction, and who is prepared for the maintenance considerations of a 115-year-old home. A thoughtful perspective is that its smaller lot and efficient size could translate to lower utility costs and less exterior upkeep, aligning with a simpler, more sustainable urban lifestyle. Its recent sale in the $200k-$250k range confirms its position as an accessible option in today’s market.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the property’s age, smaller lot size, and likely its condition and features relative to the broader Winnipeg market. It is more in line with averages for the immediate Minto area, indicating it is priced contextually for its neighbourhood.
2. What does the "top 27% for living area on Valour Road" mean for me?
It means this home has more interior space than 73% of the 421 comparable properties on Valour Road. While the lot is compact, the house itself is relatively spacious for the street, suggesting a practical layout.
3. As a 1911 home, what should I be prepared for?
You should budget for potential updates to older systems like plumbing, wiring, or the foundation. A thorough home inspection is essential. However, its age also contributes to its character and its lower assessed value.
4. How does the recent sold price compare to the assessment?
The home sold for an estimated $200,000-$250,000 in 2024, which is significantly higher than its $22,800 assessed value. This is common, as assessed value for tax purposes often lags behind actual market value, which is driven by buyer demand.
5. The lot size is in the bottom 10% for the city. Is that a major drawback?
It depends on your priorities. The small yard means minimal outdoor maintenance, which can be a benefit for those seeking a low-maintenance property. It does, however, limit potential for expansions, large gardens, or extensive private outdoor space.