Property Overview: 723 Clifton Street, Winnipeg
Key Characteristics & Appeal
This home at 723 Clifton Street in the Minto neighbourhood presents a specific value proposition. Built in 1934, its 981 sqft living space is very close to the average for both its street and local area, offering a practical footprint for a smaller household. The most defining characteristic is its significantly below-average assessed value, which ranks in the top 10% lowest on its street and city-wide. This indicates a potentially lower property tax burden and suggests an entry point into the market.
The appeal lies in its affordability and positioning as a functional starter home or investment property. The lot size is notably compact, even for the city, which translates to minimal exterior maintenance—a plus for buyers seeking a low-maintenance yard or those prioritizing interior space over land. Its recent sale history shows it has traded within the $200k-$250k range, consistent with its assessed value.
This property would best suit first-time buyers focused on financial accessibility, practical investors looking for a rental with a lower tax base, or downsizers who value a manageable, no-fuss property. It’s a home for those who view a smaller lot as a feature rather than a drawback, offering more time and budget for other priorities.
Frequently Asked Questions
1. What does the "below average" assessed value actually mean for a buyer?
It primarily suggests a lower annual property tax bill compared to many homes in Winnipeg. It can indicate a more affordable entry point, but it's essential to have a home inspection to understand the property's condition, as value assessments are not a substitute for a thorough physical evaluation.
2. The lot size is among the smallest on the street. What are the implications?
This means extremely low maintenance for grass, gardening, or snow clearing. However, it also limits potential for expansions like a large addition, garage, or deck. It offers privacy only if the home's design and window placement account for the close proximity to neighbours.
3. The home is 90+ years old. What should I be prepared for?
While many homes of this era are solidly built, key systems like plumbing, electrical, and the foundation should be carefully inspected. There may be character features, but also the potential for outdated materials. Budgeting for updates and maintenance consistent with the age of the property is wise.
4. How stable has the property's value been based on its sales history?
It has sold within the same $200k-$250k price bracket in both 2019 and 2022, suggesting its market value has remained consistent in recent years within that range. This can appeal to buyers seeking a property without a history of volatile price swings.
5. Who are the most likely neighbours or what is the community like?
Given the very close proximity of neighbouring houses (some just meters away), your daily experience will be closely tied to the immediate neighbours. The high density suggests a community where privacy is found indoors, and the social atmosphere will be quiet and residential.