Property Overview: 890 Boyd Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home on Boyd Avenue is a straightforward property that presents a clear value proposition centered on land and location. Built in 1932, its key characteristic is its modest 624 sqft living area, which is notably compact compared to most homes in the city. The home features a basement that is present but not renovated, and there is no garage or pool.
The primary appeal lies in its lot size and affordability. The 2,283 sqft land parcel is larger than many lots on its own street and in the Burrows Central neighbourhood, offering valuable outdoor space or future potential in a well-established area. With a very low assessed value and a last sale price of $130,000 in 2020, it stands as one of the most accessible entry points into the Winnipeg market.
This property would suit a specific type of buyer: a first-time purchaser or an investor comfortable with a project. It’s a practical choice for someone seeking to minimize their mortgage footprint while securing land in the city. The home requires a buyer with realistic expectations about the limited living space and a willingness to update the basement and potentially the house itself over time. It’s less about immediate move-in comfort and more about securing an affordable asset with room to grow.
Section 2: Frequently Asked Questions
1. Is the house livable in its current state?
While livable, the home is best considered a foundation. The living area is very compact, and the basement is unfinished. Budgeting for immediate updates to improve functionality and comfort is advisable.
2. Why is the assessed value so much lower than the last sale price?
The assessed value is for taxation purposes and often lags behind market values, especially in a rising market. The 2020 sale price of $130k is a more current indicator of its market value.
3. What are the real advantages of the lot size?
For the neighbourhood, the lot is above average. This provides more private outdoor space than nearby properties and could be a long-term asset for expansion, gardening, or adding a parking pad, subject to city bylaws.
4. How does the age of the home affect things?
Built in 1932, it is typical for the area. Buyers should factor in potential updates to older mechanical systems (like plumbing or wiring) and ensure a thorough inspection is completed.
5. Who are the most likely competing buyers?
Given the price point and structure, you are likely competing with other first-time buyers seeking affordability and investors looking for a rental property or a long-term hold with redevelopment potential.