903 Manitoba Avenue

Property Overview

This two-storey home at 903 Manitoba Avenue presents a distinct mix of modern convenience and practical city living. Built in 2017, it is a notably newer construction in a neighbourhood of mostly older homes. The appeal lies in its move-in readiness, featuring a renovated basement and a practical detached garage. With a living area of 1,272 sq ft, it offers comfortable space for a small family or couple. The property suits first-time homebuyers seeking a modern, low-maintenance home without a premium suburban price tag, or investors looking for a relatively new asset in a central, established area. It’s a pragmatic choice for those who value newer mechanical systems and interior finishes over a large private yard, as the lot size is compact for the city.

Frequently Asked Questions

1. Is this a good investment property?
Given its new construction age and renovated basement, it likely requires minimal immediate capital expenditure, which is attractive for rental. Its assessed value is high for the immediate area but well below the city average, suggesting potential for steady growth as the neighbourhood evolves.

2. How does the lot size impact the property?
The land area is significantly below average for Winnipeg. This means lower exterior maintenance and property taxes tied to land value, but it also offers limited private outdoor space. The trade-off is a newer, more efficient home on a manageable plot.

3. The home sold for $310k in 2021 but has a much lower assessed value. Why?
The assessed value ($32.5k) is for taxation purposes only and is not a market valuation. The 2021 sale price of $310k is the relevant market indicator. The high ratio of sale price to assessed value can be common with newer homes in older areas.

4. What’s the neighbourhood like?
Burrows Central is a mature, central neighbourhood. The presence of many older homes means the streetscape is mixed, but this specific property’s modern build stands out. It offers convenience and affordability close to the city core.

5. Are there any obvious drawbacks?
The primary compromise is space: both the lot and living area are compact by broader city standards. Buyers seeking a large yard or extensive square footage will need to look elsewhere. The value here is in the building’s age and condition, not its footprint.