319 Regent Avenue W

Property Summary: 319 Regent Avenue W, Winnipeg

Key Characteristics & Appeal

This home presents a specific and compelling value proposition. Its key characteristic is its modest 616 sqft living area, which is notably smaller than averages for the street, Victoria West neighborhood, and Winnipeg overall. Built in 1946, it sits on a roughly average 4,050 sqft lot for its immediate area. The most significant figure is its assessed value of $196k, which is well below the averages on its street ($271.9k), in the neighborhood ($281.8k), and across the city ($390.1k).

The primary appeal lies in attainable entry into the Winnipeg market and the Victoria West area at a lower price point. It suits first-time buyers, investors, or downsizers seeking a lower-maintenance footprint without a premium lot size. A thoughtful perspective is that the below-average price and taxes could free up budget for strategic renovations, allowing a buyer to customize the compact space to their needs. Its average lot size for the street also means it doesn’t feel out of place, offering standard outdoor space for the block. This is a practical choice for those prioritizing location and financial flexibility over square footage.

Frequently Asked Questions

1. Is the low assessed value a red flag?
Not necessarily. It primarily reflects the home's smaller size and older age compared to city-wide norms. It results in lower property taxes, which is a financial advantage. A buyer should still invest in a thorough inspection to understand the property's condition.

2. Who would find the smaller living area (616 sqft) suitable?
It's ideal for individuals, couples, or investors. It requires efficient use of space and may not suit those needing multiple bedrooms or who work extensively from home without a dedicated layout.

3. How does the lot size compare?
At just over 4,000 sqft, the lot is very typical for Regent Avenue W and Victoria West. It provides standard yard space for the area but is smaller than the larger lots found in other parts of Winnipeg.

4. What does the "Top 98%" ranking for living area mean?
This means the living area is smaller than about 98% of comparable homes in the area. It's a neutral statistical fact highlighting the compact nature of the home, which is the main driver behind its accessible price.

5. Is this a good investment opportunity?
Potentially. The below-average purchase price and taxes improve cash flow for an investor. Its appeal would be to tenants seeking lower rent in the area. For an owner, value growth would depend more on broader market trends and the area's desirability than on the home's inherent size.