Property Summary: 681 Moncton Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 681 Moncton Avenue in Munroe East is a classic, no-frills property built in 1947. Its key characteristic is its position as a more modest and affordable entry point within its surroundings. With 700 sqft of living space, it is notably smaller than most comparable homes on its street, in the area, and across Winnipeg. The assessed value is also proportionally lower, reflecting this. However, it sits on a decent-sized lot of nearly 5,000 sqft, which is quite standard for the immediate neighbourhood.
The primary appeal lies in its affordability and potential. It represents a lower barrier to entry for homeownership in a well-established area. The lot size offers a valuable footprint that many newer infill properties lack, presenting options for expansion, gardening, or outdoor space. It last sold in the 2022 price range of $250k-$300k, which was competitive against wider city averages at the time.
This property would best suit a first-time buyer, an investor looking for a rental property, or a practical homeowner who values land size over interior square footage and is willing to undertake updates. It’s for someone who sees the underlying value in the lot and location, rather than a move-in-ready finish.
Section 2: Frequently Asked Questions
1. Why is the living area so much smaller than the neighbourhood average?
This is a classic post-war home, and its floor plan reflects the more modest housing needs and construction styles of the late 1940s. Many homes on the street and in Munroe East have been expanded or were built larger in subsequent decades.
2. What does the "below average" assessed value mean for property taxes?
A lower assessed value typically results in lower municipal property taxes compared to larger, higher-valued homes on the same street. This can be a significant ongoing cost saving for the owner.
3. Is the large lot a potential advantage?
Absolutely. The lot is a key feature. It provides ample outdoor space and, subject to local zoning and permits, may offer future potential for additions, a garage, or a garden suite, which smaller lots in the city cannot accommodate.
4. How does the 2022 sale price compare to the current assessed value?
The assessed value for tax purposes ($21.7k) is not a market valuation. The 2022 sale price of $250k-$300k is the relevant market indicator. The significant difference is normal; tax assessments are formulas and do not reflect real-time market sale prices.
5. The home is older than most in the area. Should I be concerned?
While built in 1947, it is not an outlier on its own street, where the average build year is 1955. This suggests the character of the block is of that era. A thorough inspection is crucial to understand the condition of major aging components like the roof, foundation, plumbing, and wiring.