Property Overview: 871 Clifton Street, Winnipeg
Key Characteristics & Appeal
This home at 871 Clifton Street is defined by its exceptional affordability and compact footprint. Built in 1926, it is a century-old property with a modest 731 sqft of living space, which is notably smaller than most homes in the Minto neighborhood and across Winnipeg. Its primary characteristic is a remarkably low assessed value of $17,500, placing it among the most affordable properties in the city. The lot size of 3,359 sqft is fairly typical for the local area.
The appeal lies squarely in its potential as an entry point into the housing market with minimal property tax liability, or as a strategic investment property. It suits a very specific type of buyer: budget-conscious first-time buyers willing to take on a renovation or expansion project, investors looking for a low-cost rental property with a focus on cash flow over appreciation, or buyers seeking to minimize ongoing property tax expenses. A less obvious perspective is its potential for land value; the lot itself represents a significant portion of the property's worth in an established neighborhood, offering future possibilities for redevelopment or addition, subject to local zoning.
Frequently Asked Questions
1. Why is the assessed value so much lower than the last sold price range of $150k-$200k?
The assessed value is for municipal tax purposes and is often significantly lower than market value, especially for older, smaller homes. The sale price reflects what a buyer was willing to pay in the open market at that time.
2. What does the living area ranking mean for daily living?
Ranking in the bottom 15% for living area locally means this is a very compact home. Buyers should be prepared for limited storage and living space, suitable for a single person, a couple, or an investor considering it for a rental.
3. Are there major concerns with a 100-year-old house?
While charm and character are benefits, potential buyers must budget for and investigate the condition of critical aging components. A thorough inspection is essential to evaluate the foundation, plumbing, electrical systems, roof, and insulation, which may require updating.
4. How reliable are the sold price ranges shown?
The ranges are based on public data, which can sometimes be incomplete or approximate. For precise historical sale figures to inform your offer, you must request the exact data via the provided email service.
5. What is the realistic potential for this property?
The potential is twofold: as a live-in project where equity is built through gradual modernization and expansion, or as a long-term rental investment where the low acquisition cost and taxes could contribute to a positive cash flow. Its value is more utilitarian than based on immediate comfort or size.