Property Overview & Appeal
This property at 721 Ashburn Street is a notably compact and historically significant home in Winnipeg's Minto neighbourhood. Its key characteristic is its exceptionally small living space of 548 square feet, which ranks it among the very smallest homes not just on its street, but across the entire city. Built in 1924, the house sits on a modest 2,199 sqft lot. Its most striking feature is its extremely low municipal assessed value of $16,800, which is a fraction of the average for the area and city.
The appeal lies primarily in its unique position as an entry-point property. It represents one of the most accessible price points in the Winnipeg market, suited for a very specific type of buyer. This could include an investor looking for a minimal-cost holding or redevelopment opportunity, a hands-on buyer seeking an extreme fixer-upper with a low financial barrier to entry, or someone interested in ultra-minimalist living. Its age offers character, but it requires a vision that sees potential beyond its current, highly constrained physical state. It's important to view this not as a typical home, but as a land asset with a small, aged structure, appealing to those for whom location and price outweigh the need for space or modern comforts.
Frequently Asked Questions
1. Why is the assessed value so low compared to other homes?
The assessed value is based on the property's current state, size, and characteristics. The extremely small living area (548 sqft), the age of the structure (built 1924), and the modest lot size contribute to a valuation that reflects its limited utility as a conventional dwelling, placing it in a different category than typical family homes.
2. What type of renovation or repair should I expect?
Given the home's age and its ranking among the smallest properties, buyers should anticipate significant updates. This likely includes foundational, mechanical, electrical, and plumbing systems common to century-old homes, as well as a complete interior modernization to make the compact space functional.
3. Is this a good investment opportunity?
Its potential is highly dependent on the buyer's strategy and the specific costs of acquisition and improvement. The low entry cost could benefit an investor planning a strategic hold, a lot redevelopment (where zoning permits), or a highly efficient renovation for rental. However, the investment must account for the high per-square-foot renovation costs typical of very small, old homes.
4. How does the lot size affect future possibilities?
At 2,199 sqft, the lot is below average for the street and area. This may limit options for expansions or additions. Any redevelopment plans would need to carefully consult local zoning bylaws regarding setbacks, floor area ratios, and permissible building footprints to understand what can be built.
5. Can I get the exact historical sale price instead of the range shown?
Yes. The exact sold price is available by request. You can provide your email using the form on the property page to receive the precise figure manually, typically by the end of the same business day. Your email is not used for unsolicited marketing.