272 Austin Street N

Property Summary: 272 Austin Street N, North Point Douglas, Winnipeg

Section 1: Key Characteristics & Appeal

This property presents a distinct value proposition centered on its land. The lot is notably large for the area at 5,158 sq ft, ranking in the top 12% of North Point Douglas, offering ample outdoor space or future potential in a neighbourhood where lots are typically smaller. The home itself is a century-old character property, built around 1926, aligning with the area's historic fabric.

Its primary appeal lies in its extremely low municipal assessed value of $64,000, which is significantly below averages for the street, area, and city. This suggests a potentially low property tax burden and positions it as an entry point into the Winnipeg market. Recent sale history indicates it traded within the $150k-$200k range in 2021 and 2017.

This home would suit a specific type of buyer: value-driven investors, renovators looking for a "blank canvas" project on a generous lot, or first-time buyers prioritizing land size and low carrying costs over move-in-ready condition. It’s a property for those who see potential over polish and are comfortable in a transitioning, historic neighbourhood like North Point Douglas.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than the past sale prices?
Municipal assessments for tax purposes are not direct appraisals of market value. A very low assessment can be due to the home's condition, specific valuation models, or deferred updates, but it typically results in lower annual property taxes.

2. What does the lot size actually offer me?
Beyond yard space, a lot that is larger than area averages provides flexibility. It could allow for expansions, additions like a garage or workshop, or simply more privacy and greenery than is typical for the neighbourhood.

3. The home is very old. What should I consider?
A house built circa 1926 will likely require careful inspection for foundational integrity, historical wiring or plumbing, and insulation. While it offers character, budgeting for updates or significant repairs is essential.

4. How stable is the property value in this area?
The provided data shows that while values here are far below the city-wide average, past sales on this specific street have achieved prices well above the current assessed value. This indicates the market recognizes value beyond the tax assessment, but trends should be researched locally.

5. Where can I get the exact past sale prices?
The site notes that precise sale figures are not publicly displayed due to data source rules. You must request them directly via email from the service, which will provide a manual lookup of the verified transaction history.