Property Overview: 1192 Polson Avenue, Winnipeg
Key Characteristics & Appeal
This 900 sqft bungalow, built in 1957, presents a compelling case based on value and land. Its primary appeal lies in a standout assessed value of $341,000, which ranks in the top 4% on its street and top 10% in the Mynarski area. This suggests the property is perceived as a higher-value asset relative to its immediate neighbors, potentially due to updates, condition, or lot attributes. The home sits on a 4,096 sqft lot, offering decent outdoor space for the neighborhood.
The home’s living space is modest, ranking below average in size at every comparison level. This creates a specific dynamic: you are acquiring a property with a premium assessment but a smaller footprint. This combination would suit a value-conscious buyer, such as a first-time homeowner or an investor, who prioritizes land value and future potential over immediate square footage. It’s also a fit for those seeking a manageable, lower-maintenance home without sacrificing lot size. A less obvious perspective is that the significant gap between its assessed value and the city-wide average sale price for comparable homes could indicate room for appraisal growth, or it may reflect unique characteristics not captured by raw size metrics.
Frequently Asked Questions
1. Why is the assessed value so high compared to other homes on the street?
The assessment ranks in the elite top 4% for Polson Avenue, significantly above the street average. This typically reflects factors like renovations, additions, superior condition, or a more desirable lot layout that municipal assessors have recognized.
2. How does the smaller living area impact livability and value?
At 900 sqft, the home is cozier than many comparables. This may appeal to those seeking efficient, affordable living but requires careful consideration of layout and storage. The value is anchored more in its assessment and land than in its interior size.
3. What does the lot size offer?
The 4,096 sqft lot is near the street average but provides a good private outdoor space for a home of this size. It offers potential for gardening, expansion, or adding outdoor living features, which is a key asset.
4. What is the significance of the last known sale price (2020)?
The home sold between $250,000-$300,000 in late 2020. The current assessed value of $341,000 illustrates significant appreciation in the intervening years, highlighting the property’s increased market valuation.
5. How can I verify the exact historical sale prices?
The provided sale price is an estimated range from public records. For fully verified and exact sale figures, you must request a manual lookup via the website’s email service, as this data is not sourced from the MLS.