Property Overview
This is a compact, century-old home on a standard city lot in Winnipeg's Minto neighbourhood. Its key characteristic is its modest scale: at 543 square feet, the living area is significantly smaller than most homes on the street, in the area, and across the city. Built in 1914, the house is older than the city-wide average but is typical for its immediate vicinity. The assessed value is notably low, ranking at the very bottom on its street and well below averages at every comparison level. The lot size of 2,409 sq ft is also below average for the area.
The primary appeal lies in its position as an entry-point property with very low property taxes, suitable for a minimalist lifestyle or as a strategic foothold in the market. It would best suit a highly budget-conscious buyer, such as a first-time investor looking for a rental property with minimal overhead, or an owner-occupant who values low carrying costs over space. A less obvious perspective is that a home of this age and size on its own lot presents a rare blank canvas for creative expansion or redevelopment, subject to zoning, for a buyer with vision and renovation capital.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the property's very small living area, its age, and likely its condition and features relative to the broader market. It is consistent with being among the most modest properties in its immediate area.
2. Is the house livable in its current state, or is it a tear-down?
The listing does not specify condition. Given its age and continued assessment, it is likely habitable, but a prospective buyer must investigate its state through a viewing and inspection. Its value suggests it may require significant updates.
3. What are the potential uses for this property?
Its primary use is as a compact single-family home. The below-average lot size may limit expansion possibilities, but the low density of the lot could also make it a candidate for a careful renovation or addition, depending on local bylaws.
4. How reliable are the "sold price" and "value" estimates for a property this unique?
With no recent public sales history shown and a profile that is atypical (very small, very low assessed value), automated valuations are less reliable. This underscores the importance of requesting the manual price history and obtaining a professional appraisal.
5. Are the low taxes the main advantage here?
Yes, the extremely low assessed value translates to very low annual property taxes, which is a major financial advantage. This makes the carrying costs uniquely affordable, offsetting the limitations of the space itself for the right buyer.