Property Overview: 745 Clifton Street, Winnipeg
Section 1: Key Characteristics & Appeal
This property is defined by its modest scale and significant value proposition. The 610 sqft home, built in 1922, sits on a standard city lot of 3,394 sqft in the Minto neighbourhood. Its most striking characteristic is its exceptionally low assessed value of $21,100, which is significantly below averages for the street, area, and city.
The primary appeal lies in its potential as an entry point into the market or as a strategic investment. It suits a specific type of buyer: those seeking absolute minimum property tax liability, investors looking for a low-cost asset for redevelopment or rental (subject to due diligence), or hands-on individuals interested in a compact living project. A less obvious perspective is its appeal as a "blank slate" due to its size and age; the low square footage can be seen as an opportunity to build efficiently and creatively without the burden of renovating a larger, more expensive structure. Its recent sale between $150k-$200k in 2023 suggests it trades on its land value and potential, rather than its current living space.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sale price?
Assessed values in Manitoba are primarily for municipal tax purposes and may not reflect current market value. The recent sale price is influenced by market demand, the property's potential, and land value, whereas the assessment is a standardized formula that may not fully capture these factors.
2. What does the living area ranking mean?
The data shows this home's living area is among the smallest 1% compared to homes city-wide. This confirms it is a compact, character home. Buyers should consider if the layout and size meet their needs or if an expansion is part of their plan.
3. Is the lot size suitable for adding an addition or new build?
The lot is approximately 3,400 sqft, which is around the average for the local area. This typically provides reasonable space for potential additions or redevelopment, but feasibility is entirely subject to Winnipeg zoning bylaws, setback requirements, and lot coverage rules, which must be verified.
4. What should I investigate about a home built in 1922?
A home of this age requires careful attention to the condition of major systems. A thorough inspection is essential to understand the state of the foundation, plumbing, electrical wiring, and insulation. This due diligence is crucial to accurately budget for necessary updates or repairs.
5. How can I find out the exact past sale price?
The provided sale price is a public data range. As noted on the listing, you can request the exact sale price by emailing the source directly. This can provide a more precise benchmark for recent market activity on this specific property.