Property Overview: 892 Manitoba Avenue, Winnipeg
Key Characteristics & Appeal
This is a classic one-storey home built in 1911, situated on a standard city lot in the Burrows Central neighbourhood. Its primary appeal lies in its position as a land-value opportunity with a very low financial barrier to entry. The home itself is quite small at 520 sq ft and features an unrenovated basement and a detached garage. All metrics—year built, living area, and assessed value—rank well below averages for the street, neighbourhood, and city, indicating this is one of the most modest and affordable properties in the area.
This property would suit a specific type of buyer: an investor or a very hands-on owner looking for a low-cost entry into the market. It’s a candidate for a complete renovation or rebuild, offering the chance to create new equity. It could also serve as a bare-bones rental property, given its extremely low property taxes (reflected in the assessed value). This isn't a move-in-ready home for most, but a project with foundational assets—namely, the land and location on a main artery.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value reflects the property's current state as a very small, older home that hasn't been updated. It’s primarily assessing the land value and the existing structure's limited contribution, resulting in some of the lowest property taxes in the city.
2. Is the house livable in its current condition?
While livable conditions depend on a professional inspection, the listing notes the basement is "not renovated." Buyers should budget for significant updates or be prepared for very basic living conditions, assuming core systems are functional.
3. What are the main considerations for renovating or rebuilding?
Key factors will be the cost to modernize a 115-year-old structure, including foundational work, electrical, plumbing, and insulation. The lot size is standard, so any expansion or rebuild would need to comply with current zoning bylaws and set-backs.
4. How does the sale history influence the price?
It last sold in August 2022 for $10,800. This recent history, combined with the very low assessed value, firmly establishes this as a property traded for its land value and redevelopment potential, not for its existing dwelling.
5. What is the neighbourhood like for investment or renovation?
Burrows Central is a mature, established neighbourhood. The presence of other recently sold properties on the same street at higher values (like 896 Manitoba Ave) suggests there is appetite for updated homes here, which could support a value-add strategy.