Property Overview & Key Characteristics
This 880 sqft, one-storey home on a 3,676 sqft lot presents a straightforward, no-frills opportunity in Winnipeg's Dufferin Industrial area. Built in 1905, its key characteristic is its exceptionally low municipal assessed value of $100,000, which is significantly below the citywide average. The home features a detached garage and an unrenovated basement. Its appeal lies in its position as an affordable entry point into the market, offering a manageable-sized lot and structure for a hands-on buyer or investor. It ranks as average in size and value within its immediate neighborhood and street, suggesting it is typical for this specific, value-focused area.
This property would best suit a pragmatic buyer looking for a foundation to build equity through renovations, or an investor seeking a low-cost rental property with a stable, if modest, valuation. It’s less about immediate move-in comfort and more about future potential. A thoughtful perspective is that its "average" standing within the local context is actually a strength here—it’s not an outlier, which can provide a degree of predictability regarding local market dynamics and property taxes relative to nearby homes.
Frequently Asked Questions
1. What does "unrenovated basement" typically imply?
It generally means the basement space is in its original or functional state, lacking modern finishes. Buyers should budget for potential updates and consider a thorough inspection for foundational and moisture-related issues common in homes of this age.
2. Why is the assessed value so much lower than the city average?
The assessed value reflects the property's specific characteristics (age, size, condition) and its location within the Dufferin Industrial area, where property values are collectively lower than the Winnipeg residential average. It is assessed in line with similar local properties.
3. Who is the "hands-on buyer" this would suit?
This refers to a purchaser comfortable with, and budgeted for, gradual improvements. Given the home's age and condition notes, ongoing maintenance and DIY projects are a likely reality, making it a project for someone looking to customize and increase value over time.
4. How does the Dufferin Industrial area affect livability?
As an industrial-designated neighborhood, residents may experience more commercial traffic, noise, or activity than in purely residential zones. However, this is often factored into the affordability and can offer proximity to employment and major routes.
5. The last recorded sale was in 2017. What should I consider?
The sale history shows the property has changed hands infrequently in recent years. It’s wise to investigate why—whether it was held as a long-term rental, or if there were other factors—and to ensure all title and legal matters are clear during the purchasing process.