Property Overview & Key Characteristics
This is a compact, 650 sqft property built in 1959, located at 5-1462 Pembina Highway in Winnipeg's Crescent Park neighbourhood. Its primary appeal lies in its exceptionally low financial barrier to entry, as reflected in its assessed value of $13,600 and a 2016 sale price of $14,400. The data indicates it ranks well below the average for size, value, and year built when compared to similar properties on its street, in its neighbourhood, and across Winnipeg. There is no basement, garage, or pool.
This property would suit a very specific buyer: an investor looking for a minimal-cost entry into the market, perhaps for rental purposes, or a buyer seeking the absolute lowest possible purchase price who is comfortable with a very small footprint. Its location directly on Pembina Highway offers high visibility and potential for commercial or mixed-use, depending on zoning, which could be a unique angle not immediately apparent from the residential metrics.
Frequently Asked Questions
1. Why is the assessed value so much lower than other homes?
The assessed value is based on factors like the property's small size (650 sqft), its age (built in 1959), and its specific characteristics (no basement, no garage). The data shows it consistently ranks in the bottom tiers for value among comparable properties.
2. What type of building is this? Is it a house or an apartment?
The listing does not specify a building type. The address format (Unit 5) and the list of neighbouring units (e.g., 10-1462, 2-1462 Pembina Highway) suggest it is likely a condominium or townhouse unit within a larger complex.
3. Is this a good investment opportunity?
Its low cost presents a unique, low-risk entry point. However, key investment factors like condo fees, the condition of the common elements of the complex, and rental demand for a very small unit on a busy highway would require thorough investigation.
4. How does the 2016 sale price relate to today's value?
The 2016 sale price of $14,400 provides a historical benchmark. Current value would be influenced by market changes over the past eight years, the property's condition, and any updates made since that sale.
5. What are the main trade-offs with a property like this?
You are trading space, modern features, and potentially quiet for an extremely low purchase price. Considerations include the small living area, proximity to busy Pembina Highway traffic, and the age of the building, which may come with higher maintenance needs.