Property Summary: 22 Inman Avenue
Section 1: Key Characteristics & Appeal
This home is defined by a clear value proposition centered on its generous lot and its position as an entry point into the market. Its 581 sqft living area is notably compact, ranking below average for its street, neighborhood, and Winnipeg overall. Built in 1920, it is also one of the older homes in the Varennes area. These factors are reflected in its assessed value of $207k, which is significantly below local and city averages.
The primary appeal lies in its 5,120 sqft lot, which is larger than most on Inman Avenue and in the surrounding neighborhood. This presents a substantial canvas for expansion, gardening, or outdoor living relative to the home’s footprint. The property suits first-time buyers or practical investors seeking a lower-cost entry with clear potential for value-adding improvements. It’s a “land play” or a “blank slate” property—its current condition and size offer affordability, while its lot size and below-average valuation provide a tangible opportunity for future equity growth through renovation or expansion. It would also appeal to those seeking minimal indoor maintenance and prioritizing outdoor space.
Section 2: Frequently Asked Questions
1. Is the house too small for modern living?
At 581 sqft, the living space is compact. It would suit a single person, a couple, or someone comfortable with efficient, minimalist living. The layout and condition of the interior will be key factors.
2. Why is the assessed value so much lower than the averages?
The assessed value reflects the home’s smaller size, older age, and likely its current condition. It is priced as a more basic dwelling in its market, which is what creates the affordability and potential opportunity.
3. What can I do with such a large lot compared to the house?
The lot is the standout feature. It allows for possibilities that smaller lots do not, such as a sizable addition, a detached garage or workshop, extensive landscaping, or simply enjoying substantial private outdoor space.
4. Does being one of the oldest houses on the street mean more problems?
A 1920 build requires a diligent inspection. While it may have character, focus should be on the state of major systems (roof, wiring, plumbing, foundation) and updates that have been made over the years.
5. Is this a good investment?
Its metrics suggest it is a value-based investment. The low entry cost and large lot provide a clear path to increase value through strategic upgrades. However, this requires a willingness to invest further capital and effort into the property over time.