Property Summary: 711 Stella Avenue
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1905 on a standard city lot in the Dufferin neighbourhood. Its key characteristic is its modest scale, with a living area of 580 sqft that places it among the smallest homes in Winnipeg. The basement exists but is not renovated, and there is no garage or pool.
The primary appeal lies in its affordability and simplicity, as reflected in its very low assessed value. It represents a minimal footprint, both physically and financially. This property would suit a specific type of buyer: someone seeking an absolute entry point into homeownership, an investor looking for a straightforward rental property, or an individual wanting a minimalist living situation with extremely low property taxes. Its age offers historic charm but also implies a need for careful inspection and potential updates. A thoughtful perspective is that such a small, basic home on its own lot is a rarity in today’s market, offering a unique opportunity for customization or a lifestyle unburdened by space and high carrying costs.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value is based primarily on the property's very small size (580 sqft), its age, and its basic condition, placing its value far below the average Winnipeg home.
2. What does "basement, not renovated" typically mean?
It indicates the basement is unfinished and in original or utility condition. It likely houses mechanical systems and provides storage, but is not a finished living space.
3. Who would be the ideal buyer for this home?
It's best suited for a budget-conscious first-time buyer comfortable with a small space, an investor, or someone looking to downsize to the essentials. It requires a vision for its potential or acceptance of its as-is, minimal state.
4. The home sold for $9,800 in 2024. Is that the full market price?
Such a sale price, close to the assessed value, strongly suggests a transaction between private parties, such as family, and does not reflect an open market sale. It is not indicative of a standard arms-length market value.
5. Given its age, what should be a top inspection priority?
Beyond common concerns like wiring and plumbing, the structural integrity of a 121-year-old foundation and the condition of the roof should be major priorities. The efficiency and condition of the heating system will also be crucial for livability and cost.