1248 Fernbank Avenue

Property Overview: 1248 Fernbank Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This property presents a distinct value proposition centered on its very low municipal assessed value of $108,000, which is significantly below averages for its street, neighborhood (Rosser-Old Kildonan), and Winnipeg overall. Its key physical characteristics include a modest land size of 1,977 sq ft, which is smaller than most lots in the area.

The primary appeal lies in its potential as an entry point into the Winnipeg market. It suits buyers with a limited initial budget, investors looking for a low-cost asset with renovation or redevelopment potential (subject to zoning), or those seeking to minimize property tax burdens. A thoughtful perspective is that a home with such a low assessment on a street where newer, higher-value homes exist (like the nearby 1312 Fernbank Ave, assessed at $404k) may indicate either a significant opportunity for value addition or a property requiring substantial investment. It appeals to the pragmatic buyer focused on fundamentals over immediate curb appeal.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than the neighbors?
A significantly lower assessment typically reflects differences in the property's size, condition, features, and improvements compared to nearby homes. It suggests this property may be older, smaller, or in need of more updating than the neighborhood averages.

2. What does the "ranking" data mean?
The rankings compare this property against others in three areas: its street, the wider Rosser-Old Kildonan neighborhood, and all of Winnipeg. Rankings like "#74 out of 75" for land area indicate it is among the smallest in its immediate peer group, which is a key factor in its below-average valuation.

3. How can I find out the actual sale history and price?
The site does not publish verified transaction histories from the MLS. You must request this information directly via email, and they will manually look up and provide the most accurate available data, including exact sold prices.

4. Is the small lot size a major limitation?
The lot is under 2,000 sq ft, which is considerably smaller than the area average. This may limit expansion possibilities, outdoor space, and parking. It's essential to verify local zoning bylaws to understand what can be built or modified on the property.

5. Are the "comparable" nearby listings similar to this property?
The listed nearby properties with similar assessed values (around $108k-$123k) are useful financial comparables. However, the recently built home at 1312 Fernbank Ave (assessed at $404k) illustrates the high-end potential of the street, highlighting the wide range of property values and conditions in this location.