Property Overview
This compact, renovated home at 1-358 Alexander Avenue in Winnipeg's Centennial neighbourhood presents a unique and highly affordable entry point into the market. Built in 2012, it is a notably modern structure compared to the Winnipeg average. Its primary appeal lies in its minimal property tax burden due to a very low municipal assessed value, paired with the move-in readiness of a renovated basement. The 539 sqft living area is significantly smaller than most neighbourhood and city-wide homes, indicating a efficient, low-maintenance footprint. This is not a typical family home; instead, it suits a specific buyer: a first-time purchaser seeking absolute cost minimization, an investor looking for a low-cost rental property, or someone wanting a simple, modern pied-à-terre with extremely low carrying costs. Its value is in financial efficiency rather than space.
Key Considerations & FAQs
1. What exactly am I buying for this price?
You are purchasing a very small, modern (2012) home with a renovated basement. The focus is on affordability and low annual taxes, not square footage. It's likely a standalone tiny home, coach house, or a small modular structure.
2. Why is the assessed value so much lower than the neighbourhood average?
The assessed value ($22,200) is based on the property's market value for tax purposes. Its size (539 sqft) is a major factor, being much smaller than the Centennial average. This results in proportionally lower property taxes, which is a key feature.
3. Is this a good investment?
It depends on your strategy. The price point offers a very low barrier to entry. For an investor, the yield based on purchase price could be attractive, but potential rental income may be limited by the small size. Its resale market will always be niche due to the unconventional size.
4. What are the less obvious things to consider?
Consider financing: some lenders may be hesitant with non-standard, very low-value properties. Also, while the basement is renovated, the overall condition and quality of finishes for the entire structure should be verified. Finally, understand the exact nature of the "Building Type," which is listed as unspecified.
5. How does it compare to nearby properties with the same assessed value?
The listing shows similar-valued properties in other neighbourhoods, like Varsity View. This suggests that at this price point, you are choosing between this modern, tiny home in Centennial or potentially an older, very small condo or share in another area. It highlights the trade-off between building age and location.