Property Overview: 1-111 Scott Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, no-frills property in Winnipeg's River-Osborne neighbourhood, defined by its exceptionally small size and below-average assessed value. At 330 square feet, its living area is significantly smaller than most homes on its street, in the neighbourhood, and across the city. Built in 1961, it is notably newer than most other homes on Scott Street. The appeal lies in its position as one of the most affordable entry points into a central, desirable area. It last sold in 2024 within the $100k-$150k range, a price point that is very competitive for the location.
This property would suit a specific type of buyer: a minimalist, a first-time investor looking for a low-cost rental unit, or someone seeking an ultra-affordable foothold in a vibrant neighbourhood without the need for space. Its value is almost entirely in its location, not its physical attributes. A less obvious perspective is that its "below average" size and value metrics could represent a strategic opportunity for land value or future redevelopment in a steadily maturing area, making it a potential long-term hold for a patient buyer.
Section 2: Frequently Asked Questions
1. How liveable is a 330 sqft space?
This is a very compact living area, comparable to a large studio or hotel suite. It would require a minimalist lifestyle and efficient use of space, with little to no room for guests or accumulated belongings.
2. Why is the assessed value so much lower than the neighbourhood average?
The assessed value of approximately $89k reflects the property's very small size and likely basic condition. In River-Osborne, where average values are over $225k, this price is directly tied to the limited square footage and utilitarian nature of the unit.
3. What does it mean that it's "newer" than other homes on the street?
Built in 1961, this property is newer than the street's average (1958). This suggests it may have been an infill or replacement build and could potentially have slightly more modern underlying systems than its immediate neighbours, though the difference is not substantial.
4. Who are the typical buyers for a property like this?
The primary buyers are often investors seeking a low-cost rental property or very budget-conscious individuals prioritizing location over space. It is generally not suited for families or those who work from home and need dedicated office space.
5. How reliable are the sold price ranges shown?
The provided sold price ranges are based on publicly available data, not the MLS. For fully verified and exact historical sale figures, you must request a manual lookup from the site administrators, as detailed on the page.