Property Overview
105 Andrews Street is a compact, one-storey home built in 1906, situated on a modest lot in Winnipeg's Dufferin neighbourhood. Its key defining characteristic is its exceptionally low municipal assessed value, which is among the lowest in the city. The 720 sqft living area is significantly smaller than typical homes on its street, in the area, and across Winnipeg. The property features a basement that has not been renovated and does not include a garage or pool.
Section 1: Key Characteristics & Appeal
The primary appeal of this property lies in its position as an entry point into the housing market with minimal property tax liability. Its assessed value places it in the bottom tier city-wide, suggesting very low annual property taxes. This makes it a candidate for buyers with a strict focus on absolute minimum carrying costs or for those interested in a land-value play in an established neighbourhood.
Its small size and vintage require a practical perspective: it suits a minimalist buyer, an investor looking for a basic rental property, or someone viewing it primarily as a buildable lot with an existing structure. The unrenovated basement indicates that all systems and finishes are likely original or very dated, appealing to a buyer prepared for a full-scale renovation or comfortable with a no-frills living situation. A less obvious angle is its potential for someone interested in historical preservation on a modest scale, given its 120-year age, though it would require significant investment.
Section 2: Frequently Asked Questions
1. Why is the assessed value so low compared to the sale price from 2020?
Municipal assessments for tax purposes are based on mass appraisal models and may not reflect current market value. The 2020 sale price of $7,800 is a market transaction, while the $6,200 assessment is an administrative value used for calculating property taxes, often lagging behind market shifts.
2. What does "below average" for Living Area and Land Area mean practically?
The home (720 sqft) and lot (1,732 sqft) are considerably smaller than most. This means less interior space to maintain and heat, but also very limited room for expansion, parking, or outdoor privacy compared to neighbours.
3. Is the unrenovated basement a major concern?
It indicates the mechanical systems (like plumbing, electrical, heating) and the basement itself are likely original or very old. A thorough inspection is crucial to understand the condition and potential costs for updates or essential repairs.
4. Who would this property not suit?
It would not suit buyers looking for move-in ready conditions, modern amenities, space for a growing family, or multiple vehicles. The limited size and probable need for updates make it a project.
5. Are the low property taxes guaranteed?
While the current assessed value is low, municipal reassessments occur periodically. Any significant renovation or market-wide reassessment could increase the assessed value and subsequent tax bill in the future.