Property Overview
706 Ingersoll Street is a compact, century-old home in Winnipeg's Minto neighbourhood. Its primary appeal lies in its position as an accessible entry point into homeownership. The 680 sqft house is notably smaller than most, ranking in the bottom 10% for living area locally, but this is reflected in a below-average assessed value, making it one of the more affordable options in the city. The lot size is fairly typical for the street, and the home's age (built 1923) is consistent with the area's historic character.
This property would suit a first-time buyer, an investor looking for a rental property, or someone seeking a minimalist, low-maintenance footprint. Its value proposition is straightforward: lower upfront cost in exchange for less interior space. A thoughtful perspective for a buyer is to see the smaller size not just as a limitation, but as a forced efficiency that can lead to lower utility costs and less upkeep. However, it necessitates a lifestyle that prioritizes location and affordability over spaciousness.
Frequently Asked Questions
1. Is this a good investment property?
Given its low assessed value and historic sale price range, it could offer a lower barrier to entry for a rental investment. However, its small size and age may limit the rental demographic and potentially increase the proportion of maintenance costs relative to its value.
2. How does the small living area impact daily life?
The home is significantly smaller than the average Winnipeg house. It would require creative use of space and is likely best for a single person, a couple, or someone who views the home primarily as a place to sleep and spend minimal time indoors.
3. What are the implications of the home being over 100 years old?
While the age is typical for the street, a home from 1923 will likely have older building systems (plumbing, electrical, foundation). A thorough inspection is crucial to understand the condition and anticipate potential maintenance or renovation costs.
4. The assessed value seems very low. What does that mean?
The assessed value is for municipal tax purposes and is not the market value. Its low assessment relative to the city-wide average is consistent with the home's smaller size and location, suggesting potentially lower property taxes, which is an ongoing cost advantage.
5. Can the lot size accommodate an addition or expansion?
At 2,601 sqft, the lot is around average for the street but smaller than most in the city. Any expansion would be subject to zoning bylaws and setback requirements. Given the lot's dimensions, the potential for a significant footprint increase may be limited.