482 Sydney Avenue

Property Summary: 482 Sydney Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This home is defined by its compact efficiency and historic character. Built in 1922, it offers a modest 592 square feet of living space on a 3,278 sqft lot in Munroe West. Its assessed value of $162k is notably below averages for the street, neighbourhood, and city, positioning it as one of the most accessible entry points into homeownership in Winnipeg.

The primary appeal lies in its affordability and potential. It represents a rare opportunity for a buyer with a limited budget to secure a detached house with its own land. The lower carrying costs and property taxes are a significant practical advantage. This property would suit a first-time buyer, an investor looking for a straightforward rental property, or someone seeking a minimalist, low-maintenance lifestyle. Its age suggests potential for character details, but also implies a need for diligence regarding updates and maintenance. A thoughtful perspective is that this home’s below-average metrics are precisely what create its value—offering a foothold in the market with the trade-off being a project-oriented or compact living situation.

Section 2: Frequently Asked Questions

1. What does it mean that the home ranks 189 out of 189 for assessed value on its street?
This indicates it has the lowest assessed value on Sydney Avenue, making it the most affordable property on the street. This can be an advantage for entry but may also reflect the home's smaller size, age, and condition relative to its neighbours.

2. How reliable is the sold price data shown?
The sold price range (CA$150k–200k) is based on publicly available data, not the MLS. The site notes that while reasonably reliable, figures have had limited verification. For fully verified and exact historical prices, you must request a manual lookup from the site via email.

3. Is the 592 sqft living area practical for full-time living?
It is compact, comparable to a large one-bedroom apartment, and would require efficient use of space. It suits individuals, couples, or those comfortable with minimalist living. The layout and any potential for expansion (subject to permits) would be key considerations.

4. Given its age, what should I be most concerned about?
A home built in 1922 will likely require careful inspection of foundational elements, wiring, plumbing, and insulation. While it may have charming features, budgeting for ongoing maintenance and potential updates is essential.

5. Why is the land area considered below average, and does it matter?
At 3,278 sqft, the lot is smaller than most in the area. This means less outdoor space but also less yard work. It still allows for a private outdoor area, which is a notable advantage over a condominium at a similar price point.