Property Overview & Key Characteristics
This is a compact, 694 sqft property built in 1949, located at 11-1806 Portage Avenue in Winnipeg's Bruce Park neighbourhood. Its key appeal lies in its affordability and position as a potential entry point into the market. The home is notably smaller than most in the city and on its street, but its assessed value is around average for its immediate area. It last sold in June 2023 for $160,000, which was an around-average price for Bruce Park at that time.
The property would suit a first-time buyer, an investor, or someone looking to downsize with a minimal footprint. Its below-average taxes, stemming from a lower assessed value, are a practical financial benefit. A less obvious perspective is that its smaller size and vintage could appeal to a buyer looking for a manageable project—a home to live in affordably while making incremental updates, without the pressure or cost of a larger, newer structure. The data suggests it's a modest property in a context of more typical-sized homes, making it a specific, budget-conscious choice rather than a mainstream one.
Frequently Asked Questions
1. Why is the living area considered below average?
At 694 square feet, this home is significantly smaller than the average Winnipeg home (1,042 sqft) and even the average on Portage Avenue (931 sqft). This compact size is its defining characteristic.
2. How can the sale price be so much higher than the assessed value?
Assessed value for tax purposes is different from market value. The 2023 sale price of $160,000 reflects what a buyer was willing to pay in the open market at that time, while the $17,400 assessment is an administrative valuation used to calculate property taxes.
3. What does the "Top 98%" ranking for Year Built mean?
This statistic means the home is older than 98% of comparable properties on Portage Avenue, ranking 455th out of 465 (where a rank of 1 is the newest). Simply put, it's one of the oldest homes in that comparison group.
4. Who might this property not be suitable for?
It likely wouldn't suit a growing family needing multiple bedrooms or ample living space, or someone seeking a modern, turn-key home without renovation considerations. Its compact, vintage nature requires a specific buyer.
5. Are there any immediate financial advantages?
Yes. The assessed value is below the citywide average, which typically results in lower annual property taxes compared to many other homes, offering ongoing savings.