Property Overview: 693 Moncton Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This 992 sqft bungalow, built in 1947, sits on a just-under 5,000 sqft lot in the Munroe East neighbourhood. Its key appeal lies in its positioning as a practical and relatively affordable entry point into the Winnipeg market. The home offers a manageable size and a lot that is generous for the immediate area, providing room for gardening or expansion.
The data reveals a nuanced picture. Within its own neighbourhood and street, the home’s living space and lot size are consistently around the local average, meaning it fits right in with the community’s established character. However, its assessed value is notably below average for both Munroe East and the city overall. This combination suggests a property that may be valued for its land and location more than its current structure, potentially appealing to buyers looking for a home with future renovation potential or one where they aren’t overpaying for premium finishes.
This property would suit first-time buyers or practical investors seeking a straightforward, no-frills home in an established area. It’s also a candidate for buyers with a vision for gradual updates, as the below-average assessment could indicate room to add value through thoughtful improvements.
Section 2: Frequently Asked Questions
1. What does the "below average" assessed value actually indicate?
It primarily indicates that the municipal tax assessment for this home is lower than most in its comparison groups. This can be due to the home’s age, condition, or specific features. It often results in relatively lower property taxes, but it doesn't directly predict the final sale price.
2. How does the 2022 sale price range relate to today’s value?
The prior sale in the $200k-$250k range provides a historical benchmark, but market conditions, interest rates, and any changes to the property since 2022 will determine its current market value. It’s a starting point for research, not a guarantee.
3. Is the lot size a significant feature?
At 4,995 sqft, the lot is slightly larger than many on its street and in Munroe East. This is a tangible advantage, offering more outdoor space than some neighbours and potential for additions like a garage, deck, or garden, which is less feasible on smaller lots.
4. What should I consider about a home built in 1947?
Homes of this era often feature solid construction but may require updates to major systems like wiring, plumbing, or insulation. A thorough inspection is essential to understand the condition of these older components and to budget for any necessary modernizations.
5. Why are the "rankings" for the same feature different when comparing street, area, and city?
This shows how the property stacks up in different contexts. For example, while its living space is typical for Munroe East, it’s smaller than the Winnipeg city average for homes. This highlights the importance of evaluating a property within its immediate neighbourhood context, as city-wide averages can be skewed by newer, larger suburban homes.