Property Overview: 677 Moncton Avenue, Winnipeg
Key Characteristics & Appeal
This 1,160 sqft bungalow, built in 1947, sits on a roughly 5,000 sqft lot in Munroe East. Its primary appeal lies in offering above-average interior space for both its immediate street and neighborhood, ranking in the top 11-17% for living area among local peers. This makes it a relatively spacious option in its market segment. The lot size is typical for the area, providing a balanced yard space without excessive maintenance.
The home’s assessed value ($220k) and recent sold price range ($250k-$300k in 2024) are notably below averages for the wider city, highlighting its positioning as a more affordable entry point into the Winnipeg market. A thoughtful perspective is that this property represents a practical trade-off: you acquire more interior space than many nearby homes, but in an older structure that may require updates. It suits value-conscious buyers, such as first-time homeowners or investors, who prioritize square footage and lot size over modern build year or high assessments, and who are prepared for the potential maintenance or renovation needs of a home nearing 80 years old.
Frequently Asked Questions
1. How does the home’s age impact its value and condition?
Built in 1947, the home is older than most in the city and neighborhood. This often results in a lower assessed value, which can mean lower property taxes, but buyers should budget for potential updates to systems like plumbing, electrical, or insulation.
2. The sold price seems higher than the assessed value. Why?
This is common. The assessed value is for municipal tax purposes, while the sold price reflects the current market. The 2024 sale in the $250k-$300k range suggests buyers saw value beyond the tax assessment, likely due to its spacious layout and lot.
3. Is the living space efficiently configured?
At 1,160 sqft, it offers more space than many comparable homes on the street (~1,012 sqft avg.). However, the layout of a 1947 bungalow may differ from modern open-concept designs. Viewing the floor plan is recommended to see if the space meets your needs.
4. What does the "below average" assessed value ranking mean?
Ranking in the bottom 20% for assessed value on its street and in the area indicates this home is taxed at a lower value than its neighbors. This can be an ongoing cost advantage, but it may also reflect the market's view of its condition, age, or features relative to others.
5. Who would be the most likely neighbors?
The nearby properties are a mix of similar-era bungalows and some newer builds (like the 2022 home on Munroe Avenue). This suggests a stable, established residential street with gradual renewal, appealing to those seeking a mature neighborhood.