Property Overview: 701 Moncton Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 701 Moncton Avenue in the Munroe East neighbourhood is a classic, no-frills property built in 1947. With 981 sqft of living space and a nearly 5,000 sqft lot, its size is very typical for its immediate street and area, offering a manageable footprint. The data reveals a clear, defining characteristic: its assessed value is significantly below average for the street, neighbourhood, and city. This suggests a property that may be undervalued or in need of updating compared to its peers.
The primary appeal lies in its position as a potential entry point into the market. The below-average assessment can translate to lower property taxes, which is a tangible, ongoing savings. The lot size is a solid asset, providing good outdoor space for its setting. It suits practical, value-conscious buyers such as first-time homeowners willing to take on a project, investors looking for a rental property with a lower tax burden, or downsizers seeking a modest home with a manageable yard. A less obvious perspective is that a home with metrics that stand out this much from area averages can represent a clear-value opportunity in a stable neighbourhood, allowing for equity growth through strategic improvements.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than neighbouring homes?
A significantly lower assessment often indicates the property has not been renovated or updated to the same degree as comparable homes in the area. It reflects its current condition and market position relative to peers.
2. What does the sold price history tell us?
The home sold in the CA$150k-$200k range in 2017. This historical price, combined with the current low assessed value, highlights its consistent positioning as a value-oriented property in the area.
3. Is the smaller living area a concern?
At 981 sqft, the living space is average for Munroe East. It represents a more compact, efficient layout typical of its era, which can mean lower utility costs and less maintenance.
4. What are the implications of the 1947 build year?
As one of the older homes on the street, it may require more attention to maintenance, wiring, plumbing, or insulation. However, it also comes with the character and larger lot proportions often found in older neighbourhoods.
5. How does the lot size compare?
The 4,995 sqft lot is slightly above average for the street. This is a positive feature, providing more private outdoor space than many directly comparable properties.