Property Overview: 562 Stella Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey character home built in 1901, situated on a standard-sized lot in the Dufferin neighbourhood. Its key appeal lies in its position as an accessible entry point into the Winnipeg market, underscored by a very low municipal assessed value. The home is notably smaller (816 sqft) and older than most comparable properties in the area, which is reflected in its pricing.
Its primary suit would be a pragmatic first-time buyer, an investor looking for a rental property with a lower entry cost, or a hands-on individual seeking a straightforward renovation project. The unrenovated basement presents potential, but also confirms the home requires updates. A less obvious perspective is that its smaller size and lot, while below area averages, can mean lower maintenance costs and property taxes, appealing to those seeking simplicity and minimal upkeep. The home’s age and established location offer a sense of permanence and neighbourhood character that newer subdivisions may not.
Section 2: Frequently Asked Questions
1. Is this a "fixer-upper"?
Yes, the listing notes the basement is "not renovated," and given the home's age (125 years) and below-average metrics for size and value compared to the neighbourhood, it likely requires modernization and maintenance throughout.
2. Why is the assessed value so much lower than the last sale price?
The municipal assessed value ($8,800) is for taxation purposes and is often significantly lower than market value. The home last sold for $70,000 in 2017, which is a more relevant benchmark for current market value.
3. How does the home's size compare to the neighbourhood?
At 816 sqft of living area, this home is smaller than most in the immediate area. Comparable homes on Stella Avenue average about 1,182 sqft, placing this property in the smaller third of homes locally.
4. What does the "top X%" ranking mean for the Year Built?
A ranking of "Top 91%" for Year Built means this home is older than 91% of comparable homes on its street. Built in 1901, it is a historic property in a neighbourhood where the average comparable home was built around 1922.
5. Are there any major amenities or features missing?
The listing specifies there is no pool and no garage. Parking would be limited to on-street or the potential to create a driveway on the 4,084 sqft lot.