Property Overview
This is a compact, 730 sqft unit in a multi-unit building at 3-552 De La Morenie Street in Winnipeg's Central St. Boniface neighbourhood. Built in 1959, it recently sold for $14,500. The data suggests it's a modest, no-frills property with a very low entry price.
Key Characteristics & Appeal
The primary appeal of this property is its extreme affordability and location. With a recent sale price of $14,500 and a low assessed value, it represents one of the most accessible entry points into the Winnipeg market. It suits a very specific buyer: someone seeking a minimal-cost foothold in the city, possibly an investor looking for a straightforward rental property, or a buyer willing to trade space and modern features for ultra-low carrying costs.
While its living area is modest compared to the neighbourhood and city averages, it is actually one of the larger units on its specific street. A less obvious perspective is that its older building year (1959) is a relative advantage on its block, ranking in the top 13% locally, meaning it may be among the more established structures on the street. This isn't a property for those seeking luxury or space; its value lies in practicality and cost-efficiency in a central location.
Frequently Asked Questions
1. What does the sale price of $14,500 actually indicate?
This very low price typically indicates a property suited for basic shelter or investment, not a turn-key family home. It may be a small apartment-style unit without its own basement, garage, or yard.
2. How can the assessed value be so different from the sale price?
The assessed value ($16,500) is for municipal tax purposes, while the sale price is determined by the market. In this case, the market price came in slightly below the city's assessment.
3. What does "Below average neighbourhood" for Living Area mean?
The 730 sqft unit is smaller than the typical home in Central St. Boniface (average ~1,083 sqft). This confirms it's a compact living space, not a standard single-family house.
4. Are there other units in the same building?
Yes, the listing shows multiple units at 552 De La Morenie Street (e.g., 1-552, 2-552, etc.), indicating this is likely a multi-plex or apartment building.
5. Who would this property suit best?
It would best suit a budget-focused investor, a first-time buyer with very limited funds seeking to build equity, or someone needing an inexpensive, central pied-à-terre. It is not suited for those requiring room for a family or modern amenities.