Property Overview: 844 Flora Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a modern, one-storey home built in 2017, offering a move-in-ready opportunity in Winnipeg's Dufferin neighborhood. Its primary appeal lies in its combination of new construction and an unusually low property tax assessment. At approximately 970 sqft with a renovated basement, it provides efficient living space on a standard city lot.
The home’s standout feature is its financial profile. While its assessed value is among the top 5% on its street, it is significantly lower than the citywide average, suggesting potential for long-term value growth as the area develops. This creates a unique proposition: a nearly new home with property taxes that are currently more typical of an older, modest property.
This property would suit first-time buyers or downsizers seeking a modern, low-maintenance home without the premium price tag of a newer suburb. It’s also a pragmatic choice for value-focused buyers who prioritize a newer building envelope (roof, windows, HVAC) and are comfortable with a compact, efficient floor plan. The renovated basement adds valuable flexible space, compensating for the main floor's cozier size.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
Assessment is based on a mass appraisal system considering location, size, age, and recent sales. While modern, this home is on a smaller lot in a neighborhood with many older, lower-valued homes. Its assessment reflects its immediate context more than its absolute newness.
2. What does the "renovated basement" include?
The listing confirms a renovated basement but does not specify finishes or layout. This should be verified in a viewing to understand if it’s a finished living space, a utility area, or a combination.
3. Is there parking or a garage?
The listing specifies no garage. Parking is likely via driveway or on-street, a common trade-off for a newer home on a standard city lot in an established area.
4. How does the living space compare to nearby homes?
At 970 sqft, it is slightly below the average for both Flora Avenue (~1,120 sqft) and the Dufferin area (~1,112 sqft). This indicates a more compact, efficient design compared to many neighboring properties.
5. The home sold for $26.5k in 2016. Is that the full price?
No. The 2016 sale price of $26.5k reflects a nominal transaction, likely a land sale or transfer between related parties prior to the home's construction in 2017. It is not indicative of the home's market value post-construction.