Property Summary: 584 Stella Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1909 on a standard city lot in the Dufferin neighbourhood. Its key characteristic is its modest scale: at 726 sq ft, the living area is notably smaller than most comparable homes locally and city-wide. The property presents as a foundational opportunity rather than a move-in-ready home. Its appeal lies in its potential as an affordable entry point into the Winnipeg market, with a very low assessed value that suggests a correspondingly accessible price point. The basement exists but is unrenovated, and there is no garage or pool.
This home would best suit a specific type of buyer: a hands-on first-time purchaser, an investor looking for a rental property, or someone seeking a minimal footprint. It’s a project property, ideal for someone with renovation skills or the budget to gradually update it. A less obvious perspective is its potential for those interested in "right-sizing" or minimalist living, where the smaller interior space is a feature, not a drawback, and the lot provides outdoor flexibility. Its age and condition mean it’s not suited for buyers seeking immediate, modern convenience without undertaking work.
Frequently Asked Questions
1. What does the assessed value tell me about the likely price?
The assessed value is significantly below city averages, which typically indicates a lower market price point. It strongly suggests this is one of the most affordable property types available, but the final sale price will be determined by market conditions and the property's condition.
2. Is the small living area a major concern?
It depends on your needs. The home is in the bottom 10% for size on its own street. It will feel compact, especially for a family. However, for a single person, couple, or investor, it represents efficient, low-maintenance space. The unrenovated basement could offer future expansion potential.
3. What should I expect with a 117-year-old home?
Built in 1909, it is around the average age for its immediate area. You should budget for and expect older home essentials: potential updates to wiring, plumbing, insulation, and the roof. A thorough inspection is crucial to understand the scope of needed maintenance or repairs.
4. How does the lot size compare?
At 3,676 sq ft, the lot is below average for the street but around average for the wider Dufferin area. It provides a standard urban yard space. For a small home, the lot proportion is actually quite generous, offering good outdoor room relative to the interior.
5. Who are the most likely neighbours or buyers for this street?
Given the home's profile and the data showing similar, modestly valued homes on Stella Avenue, the neighbourhood likely consists of other long-established, value-oriented properties. The buyer pool will be those prioritizing location and lot value over square footage, seeing the structure itself as a canvas for improvement.