Property Overview: 350 Greene Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a modest, mid-century bungalow in the Rossmere-B neighborhood, built in 1953. With 886 sqft of living space, it is notably compact, placing it in the smaller 15-20% of homes locally and citywide. Its municipal tax assessment of $284,000 is also below area averages, suggesting a relatively accessible entry point into the Winnipeg market.
The primary appeal lies in its value proposition and lot size. While the house itself is smaller, it sits on a near-5,000 sqft lot, which is slightly above average for its street. This presents a classic opportunity: the property may suit a first-time buyer or downsizer comfortable with a cozy footprint, while the generous lot offers future potential for expansion or outdoor enjoyment. Its 1953 construction date is typical for the area, indicating a home that may have seen updates but likely retains its original character.
This home would best suit practical, budget-conscious buyers. It’s a candidate for someone seeking a lower ongoing tax burden, a manageable space to maintain, or a solid foundation for a gradual, sweat-equity renovation. It’s less suited for those requiring move-in-ready, modern spaciousness.
Section 2: Frequently Asked Questions
1. Is the price likely to be near the last sold price from late 2022?
The data indicates it last sold for an estimated $300,000-$350,000. Given its current tax assessment of $284,000, a sale price would likely be negotiated within or above that historical range, influenced by market conditions and any updates made since.
2. How does the smaller living space impact daily life and resale?
The 886 sqft layout requires efficient use of space. It promotes a simpler lifestyle but may feel cramped for a growing family. For resale, it appeals to a specific segment, which can mean a narrower buyer pool but also less competition from larger, more expensive homes.
3. What are the implications of the lot being larger than the house?
This is often seen as an asset. It provides yard space, better privacy from neighbors, and is a key feature for anyone considering a future addition, garage, or garden. It also means a higher portion of the property's value is in the land itself.
4. The home is older—what should I be most concerned about?
Built in 1953, major systems like plumbing, electrical, roofing, and insulation should be carefully evaluated. Their age and condition will significantly influence immediate costs and renovation budgets. An inspection is essential.
5. How does the below-average tax assessment benefit me?
A lower assessment typically translates to lower annual property taxes, which is a direct and ongoing cost saving. However, it's also a reflection of the municipality's valuation, which may be lower due to the home's size and condition compared to others.