Property Overview
This is a compact, 614 sqft property built in 1909, located at 5-350 Qu'Appelle Avenue in Winnipeg's Central Park neighbourhood. Its key appeal lies in its exceptionally low financial barrier to entry, reflected in a very modest assessed value. The home is notably older than most in the city, but it is one of the newer buildings on its own street. While its size is below the Winnipeg average, it is actually more spacious than many comparable units in the immediate Central Park area. The property has no basement, pool, or garage.
This listing would primarily suit a very budget-conscious buyer, such as a first-time investor looking for a minimal-cost entry into the market, or an individual seeking the absolute lowest possible ownership costs. Its small size and vintage suggest it would function best as a compact, efficient living space for a single person or couple. The data indicates it's a unique offering in the citywide market, positioned for those for whom affordability is the paramount concern over modern amenities or space.
Frequently Asked Questions
1. Why is the assessed value so much lower than the Winnipeg average?
The assessed value is among the lowest in the city, which is primarily a reflection of the property's age, compact size, and lack of additional features like a garage or basement. It also reflects market values within its specific building type and neighbourhood context.
2. How does the age of the home affect its value and appeal?
Built in 1909, the home is significantly older than the typical Winnipeg property. This can mean potential for character but also suggests a greater need for attention to maintenance and updates to older building systems. Interestingly, on its own street, it is one of the newer properties.
3. Is the living space practical for daily life?
At 614 square feet, the living area is compact by city standards but is actually above average for similar properties in the Central Park area. It would require efficient use of space and is likely best suited for one or two occupants.
4. What does the sale history tell us?
The property last sold in December 2021 for $4,200, which is very close to its current assessed value of $4,300. This recent sale provides a concrete, comparable market price point from just over two years ago.
5. Who would be the most likely buyer for this property?
The most natural fit is an investor or owner-occupant with a strict focus on minimal upfront cost and carrying charges. It represents a rare opportunity for asset ownership at a very accessible price point within Winnipeg, trading space and modern amenities for affordability.