Property Overview: 914 Connery Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This 1,140 sqft home, built in 1962, presents a distinct profile in Winnipeg's Munroe East neighbourhood. Its primary appeal lies in its efficient use of space; the living area is notably above average for both its immediate street and local area, suggesting a well-proportioned interior relative to many nearby homes. However, this comes with a significantly smaller lot (2,501 sqft) compared to area norms, which is a key trade-off.
The property’s most striking characteristic is its very low municipal assessed value ($20,200), which ranks at the bottom of its peer groups. This typically indicates a lower property tax burden but often corresponds with a need for updates or investment. The home last sold between $150k-$200k in 2018.
This property would best suit a pragmatic, value-conscious buyer. Ideal candidates include first-time investors looking for a rental property with lower holding costs, or hands-on owner-occupants who prioritize interior space over yard size and are prepared to undertake renovations. It is less suited for those seeking a large outdoor space or a move-in-ready home without project work.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than other homes?
A significantly low assessed value often reflects the property's condition, features, and market position as determined by municipal assessors. It usually suggests the home requires modernization or repairs compared to its neighbours, resulting in a lower tax assessment.
2. What does the smaller land area mean for me?
The lot is less than half the size of the average lot on Connery Avenue. This means minimal exterior maintenance and lower landscaping costs, but very limited private outdoor space. It may also affect future expansion potential, like building an addition.
3. The living area is ranked high, but the lot size is low. What's the implication?
This combination suggests the house footprint likely occupies a larger portion of the lot. You're getting a relatively spacious interior for the area, but with a compact yard. The appeal is efficiency—more house, less land to manage.
4. How reliable is the last sold price range from 2018?
The provided range is based on public data. For precise financial planning, you should request the exact sold price history from the listing service, as the difference between $150,000 and $200,000 is substantial for evaluating market trends.
5. Are the low rankings for value and land area a red flag?
Not necessarily a red flag, but a clear indicator of this property's specific niche. It highlights a cost-effective entry point into the market with a trade-off. Due diligence should focus on the home's structural condition, renovation needs, and whether the layout and lot meet your lifestyle needs.