6-722 Maryland Street

Property Overview: 6-722 Maryland Street, Winnipeg

Section 1: Key Characteristics & Appeal

This is a compact, 510 sqft condo unit in the Daniel McIntyre neighbourhood, housed within a character building dating to 1914. Its most defining characteristic is its exceptionally low financial barrier to entry, evidenced by an assessed value of just $5,200. This positions it as one of the most affordable owned properties citywide.

The primary appeal lies in pure affordability and a minimalist footprint. It represents a rare opportunity for entry into homeownership with very low property tax and carrying costs. It would suit a specific buyer: a first-time purchaser seeking an absolute cost-minimum foothold in the market, an investor looking for a deeply priced asset with potential for rental income, or someone wanting a minimal-maintenance base in a central, established neighbourhood.

A less obvious perspective is that its age and small size are not just compromises but can be features for the right person. The building's 1914 construction means it has survived over a century of city changes, offering a sense of permanence. The small living area forces a simplified, efficient lifestyle, which can be a deliberate choice rather than just a limitation.

Section 2: Frequently Asked Questions

1. What does the "Top 99%" ranking for Living Area mean?
This means the unit's size (510 sqft) is smaller than approximately 99% of comparable properties across Winnipeg. It confirms this is a very compact unit, even compared to the city's average condo or apartment.

2. Why is the assessed value so much lower than the last sale price?
The unit sold for $7,800 in September 2022, while its current assessed value is $5,200. Municipal assessments for tax purposes can differ from market sale prices due to different valuation models and timing. This discrepancy warrants clarification with the listing agent or municipality.

3. What is the condo fee structure, and what does it cover?
This is the most critical question for this property. Given the low assessed value, understanding the monthly condo fees—and what they cover (e.g., building insurance, water, exterior maintenance, reserves)—is essential to calculating the true total cost of ownership.

4. How does the "basement" designation affect the unit?
The listing specifies "Basement." This typically means the unit is either fully or partially below ground level, which can impact natural light, ceiling height, and access. Viewing the unit in person is crucial to understand its specific layout and feel.

5. Are there many similar units in the building?
The nearby properties list shows four other units at the same address (e.g., 1-722, 2-722 Maryland Street). This indicates a multi-unit building, so it's important to inquire about the total number of units, owner-occupancy ratio, and the overall condition and management of the shared building.