Property Overview
This 846 sqft bungalow at 473 Monreith Street in Winnipeg's Robertson neighborhood presents a specific value proposition. Built in 1955, it is notably newer than many homes on its street and in the area. With an assessed value of $270,000, it sits above the street average but below the Winnipeg citywide average, positioning it as a relatively affordable entry into the market. The home sits on a 3,000 sqft lot, which is compact compared to local and city norms.
Key Characteristics & Appeal
The primary appeal of this property is its balance of a newer build date within an established, affordable neighborhood. For a buyer, this suggests potentially fewer immediate concerns with aging infrastructure compared to neighboring homes. Its compact size and lot make it a low-maintenance option, well-suited for first-time homeowners, downsizers, or investors seeking a manageable property. The appeal lies in its practicality rather than grandeur; it’s a home that prioritizes function and fundamentals over space.
A thoughtful perspective is to view the below-average living area not just as a limitation, but as an opportunity for efficient living or a strategic renovation to improve layout and flow. Similarly, the smaller lot reduces yard work but may limit expansion possibilities. This property would best suit a pragmatic buyer who values a newer construction date and a straightforward financial entry point over square footage, and who is comfortable with a cozy footprint.
Frequently Asked Questions
1. How does the assessed value relate to likely selling price?
The assessed value of $270k is for municipal tax purposes. Recent sold prices on the street (2022 sale in the $300k-$350k range) suggest market value can be higher, but consulting a local agent for a current market analysis is essential.
2. What does "newer" build date (1955) mean for a home like this?
While newer than many area homes (street average is 1949), a 1955 home will still have aging components. The advantage is potentially updated systems or less wear compared to much older stock, but a thorough inspection is still critical.
3. Is the smaller lot size a major drawback?
It depends on your lifestyle. It significantly reduces maintenance and may lower property taxes, but it limits outdoor space and the potential for large additions. It's a trade-off for simplicity.
4. Who would this property not suit?
It may not suit growing families needing more bedrooms and living space, or buyers who prioritize large gardens, outdoor entertainment areas, or significant renovation/expansion projects due to lot constraints.
5. How can I verify the exact past sold prices mentioned?
The site provides sold price ranges based on public data. For fully verified, exact transaction history and figures, you must request a manual lookup from the site provider, as they do not display MLS records.