721 Clifton Street – Property Summary
1. Key Characteristics & Who It Suits
This property is a 1,242 sqft home built in 1932 on a 2,262 sqft lot, with an assessed value of $244,000. Its strongest feature is the living area, which is above average for both the street (top 16%) and the neighbourhood (top 24%), though it sits slightly below the citywide average. The assessed value is below the street and city averages, reflecting a combination of its older construction and modest lot size.
The appeal here is practicality over space. The home offers more interior room than most nearby properties, but the land is unusually small—ranking near the bottom of the street and citywide. This suggests a compact, low-maintenance lot that may suit buyers who want indoor square footage without the upkeep of a large yard. The 1932 build means original character is likely, but also potential for older systems and finishes.
This property would suit a buyer who prioritizes interior space and is comfortable with a smaller lot—perhaps a first-time homeowner, an investor looking for a rental with modest land costs, or someone downsizing from a larger house who still wants a generous living area. It may be less ideal for families seeking outdoor space or buyers looking for a newer, turnkey home.
2. Frequently Asked Questions
1. Why is the assessed value below average even though the living area is above average?
Assessed value reflects a combination of factors, not just size. In this case, the home’s older age (1932) and very small land area (2,262 sqft) likely offset the benefit of having more interior space. The property ranks much lower on lot size than on square footage.
2. How does the 1932 build affect insurance and maintenance?
Older homes often mean higher insurance premiums due to potential wiring, plumbing, or roof issues. But they can also have solid construction and desirable architectural details. A pre-purchase inspection is strongly recommended to assess the condition of major systems.
3. Is the small lot a negative for resale value?
It depends on the buyer pool. For some, a small lot means less yard work and lower property taxes. For others, limited outdoor space can be a dealbreaker. In a neighbourhood where lots are typically larger, this home stands out—which could either limit appeal or attract a specific niche.
4. How does this property compare to newer homes in Winnipeg?
Compared to the citywide average, this home is older (1932 vs. 1966), has less land (2,262 sqft vs. 6,570 sqft), and is assessed lower ($244k vs. $390k). However, its living area is close to the city average. So it offers comparable indoor space at a significantly lower price point—useful for budget-conscious buyers.
5. What is the neighbourhood (Minto) like for this price range?
Minto is an established area with a mix of older homes. At $244k, this property is near the neighbourhood average assessed value, so it’s priced in line with others in the area. The neighbourhood itself is above average for living space but has smaller lots than many parts of the city, so this home fits the local pattern.