48 Inman Avenue

Property Overview: 48 Inman Avenue

Key Characteristics & Buyer Appeal

This home presents a distinct value proposition centered on its generous lot and below-average price point within its established Varennes neighborhood. The key characteristic is the 5,120 sqft lot, which is larger than most on its street and in the immediate area, offering valuable outdoor space or future potential. This stands in contrast to the compact 672 sqft living area, which is notably smaller than averages at every level—street, neighborhood, and citywide. Built in 1927, it is older than the Winnipeg average but typical for its local area.

The primary appeal lies in affordability and land. With an assessed value significantly below local and city averages, it represents a lower barrier to entry into the housing market. It would suit practical, value-conscious buyers such as first-time homeowners willing to trade interior space for a larger yard, or investors looking for a land-hold opportunity in a mature neighborhood. Its profile suggests it’s a property where the value is in the land itself, making it a candidate for those with a vision to renovate, expand, or simply prioritize outdoor space over a large existing footprint.

Frequently Asked Questions

1. Is this a "fixer-upper"?
While the condition isn't detailed here, the data suggests it. The combination of a smaller, older home with a low assessed value but a desirable lot size often indicates a property that may require modernization or repairs.

2. Why is the assessed value so much lower than the neighbors'?
The assessed value is consistently in the bottom tier for the area. This typically reflects the home's smaller size, age, and potentially its condition relative to other homes, not the land value itself.

3. Can the house be expanded, given the large lot?
The lot size is a major asset here and could provide room for an addition, subject to local zoning bylaws, setback requirements, and obtaining the necessary permits. This is a key point for a buyer to investigate.

4. What does the "Below Average" living area ranking mean for daily life?
It confirms the home's layout is compact. Buyers should be prepared for efficient use of space and consider if the floorplan meets their needs for storage, furniture, and living arrangements without significant alteration.

5. Are property taxes likely to be lower?
Generally, yes. Since property taxes are based on the assessed value, this home's lower assessment should result in a lower tax bill compared to larger, higher-valued homes in the same neighborhood.