Property Overview & Key Characteristics
This 1947-built, one-storey home on a 4,222 sqft lot presents a straightforward opportunity in Winnipeg's Robertson neighbourhood. Its primary appeal lies in its land value and relative affordability, underscored by a very low assessed value. The 700 sqft living area is compact, ranking in the top 5% city-wide for small size, which suggests a minimalist lifestyle or significant redevelopment potential. The lot size is above average for the street, offering more outdoor space than many nearby properties.
It would suit a specific type of buyer: an investor or handy first-time buyer looking for a land-value play or a cosmetic fixer-upper with room to expand. Its recent 2023 sale price being below the current assessed value may indicate a quick flip or a value adjustment, making it a point for due diligence. The appeal is practical rather than luxurious, focusing on fundamentals like lot size and location within a mature neighbourhood.
Frequently Asked Questions
1. What does the assessed value ranking actually tell me?
While the assessed value is very low (top 8% in Winnipeg, meaning 92% of properties are assessed higher), its ranking within the neighbourhood is in the bottom 4%. This suggests the property is considered a lower-value asset for its specific area, which could influence property taxes and financing.
2. The living area is very small. Is there room to expand?
The 700 sqft home sits on a lot larger than 81% of others on the street. This significant lot size, relative to the house, is a key feature, indicating clear potential for a future addition or major renovation, subject to zoning.
3. How does the recent 2023 sale price compare?
The property sold for $14,500 in September 2023, which is notably lower than its current $17,800 assessed value. A buyer should investigate the circumstances of that sale and any changes made since to understand the current valuation.
4. What is the neighbourhood context?
Robertson is a mature, central neighbourhood. The provided comparable listings show a mix of similarly assessed, older homes, indicating this is a typical property type for the area, not an outlier. It's a setting of established, modest homes.
5. Are there any major drawbacks highlighted in the data?
The data flags the absence of a basement, garage, or pool. The age (79 years) means potential for older systems. The high percentile rankings for small living area confirm a very compact layout, which is a key consideration for lifestyle needs.