Property Overview
This two-storey home at 650 Wellington Avenue in Winnipeg's Daniel McIntyre neighbourhood presents a specific and practical value proposition. Its key characteristics create a profile that will resonate strongly with certain buyers, while giving others pause.
Key Characteristics & Buyer Appeal
The home's primary appeal lies in its modern build year (2006) relative to its surroundings. In a neighbourhood and city dominated by century-old homes, this property is a notable exception, potentially offering greater peace of mind regarding foundational integrity, wiring, and plumbing systems. With 1,080 sqft of living space, it provides adequate room for a small household.
However, this comes with significant trade-offs. The lot size is exceptionally small (1,984 sqft), ranking in the bottom percentiles locally and city-wide. This means minimal outdoor private space. There is no garage, and the basement exists but is unrenovated. The assessed value is very low for the city, reflecting these compromises and the location.
This property would best suit a pragmatic, first-time buyer or an investor seeking a relatively modern, low-maintenance building shell in an central urban area. The buyer must prioritize interior condition and newer systems over outdoor space, architectural character, or immediate luxury. It’s a functional entry point into the market, offering a chance to build equity without the constant repair concerns of a much older home, but with the understanding that the land itself offers little room for expansion or privacy.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value reflects a combination of the very small lot size, the lack of a garage or renovated basement, and the property’s location within its specific market context. It indicates a lower starting point for property taxes.
2. What are the advantages of a 2006 build in this area?
A newer build like this one likely has modern construction standards, more efficient insulation and windows, updated electrical wiring (likely with a breaker panel), and PVC plumbing. This can mean significantly lower immediate repair costs and better energy efficiency compared to the neighbourhood's many 100+ year-old homes.
3. How limiting is the small lot size in practice?
The lot is primarily suited for the footprint of the house itself. Outdoor space for gardening, entertaining, or children's play will be extremely limited. Parking will be restricted to on-street, and future expansions like a large deck or addition are likely not feasible.
4. Is the unrenovated basement a major project?
The basement is described as "not renovated," meaning it is likely a raw or partially finished utility space. Completing it would be a significant project to add living area, but it also provides a blank canvas without the need to first demolish old finishes.
5. How does the 2016 sale price relate to today’s value?
The 2016 sale of $17,800k is a historical data point and not a direct indicator of current market value. It does, however, underscore the property's long-standing position as a lower-value asset in the area, influenced by its unique characteristics. Current value would be determined by recent comparable sales and market conditions.