Property Overview: 955 Selkirk Avenue
Key Characteristics & Appeal
This is a modest, one-storey home built in 1950 on a standard city lot in the Burrows Central neighbourhood. Its primary appeal is its straightforward, no-frills nature. The house itself is quite compact at 704 square feet of living space and features an unrenovated basement. There is no garage or pool. The data suggests the property is valued predominantly for its land, as its assessed value is significantly below averages for the street, neighbourhood, and city.
This property would suit a specific type of buyer. It's a potential candidate for an investor or handy homeowner looking for a foundational property with minimal initial financial outlay. It could serve as a long-term hold, a renovation project for someone wanting to build equity through sweat equity, or a rental opportunity. Given its size and condition, it is not likely to suit a buyer seeking a move-in ready or spacious family home. A thoughtful perspective is that its below-average metrics might represent a lower barrier to entry in the market, offering a foothold in a neighbourhood where other homes, by comparison, command higher values.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value reflects the property's specific characteristics: a smaller, older home in need of updates. The value is largely in the land itself rather than the current structure.
2. What does "unrenovated basement" typically imply?
This usually means the basement is in original or rough condition. It likely lacks finished walls or ceilings, modern flooring, and may be suited only for storage or utility space without significant work.
3. Is the land size suitable for an addition or redevelopment?
With a lot size of just over 3,000 square feet, the property is on a standard Winnipeg lot. Any expansion or redevelopment would need to comply with local zoning bylaws regarding setbacks and lot coverage, which may limit significant enlargement.
4. How does the 2019 sale price relate to the current assessed value?
The property sold for $15,500 in 2019, which is higher than its current assessed value of $9,400. This difference highlights that assessed value for taxation purposes doesn't always directly equate to market sale price, which can be influenced by many other factors.
5. Are the nearby "similar assessed value" properties good comparables?
Not necessarily. The list shows properties with identical assessed values, but some are on industrial streets (Perseus Way). This underscores that a low assessment can stem from different factors—like location type—and true comparables should be based on similar location, lot type, and house style.