14-775 Mulvey Avenue

Property Overview

This is a compact, 389 sqft condo unit located at 14-775 Mulvey Avenue in Winnipeg's Earl Grey neighbourhood. Built in 1913, it is one of the older units on its street. Its key appeal lies in its ultra-affordable entry point into the market, with a very low assessed value that places it well below average for both the neighbourhood and the city. This is not a property for those seeking space, but rather a pragmatic solution for minimalists, first-time investors, or buyers with a strict budget focused solely on ownership. Its maintenance fees and the specific condition of a 113-year-old building will be far more critical to value than its square footage.

Key Characteristics & Ideal Buyer

• Affordability & Scale: The defining feature is its low cost. With an assessed value of $8,800, it represents one of the most accessible ownership opportunities in the city. The living space is very small (389 sqft), ranking average for its own building but well below area norms.
• Location & Building Context: It's situated in a mature, central neighbourhood. The data suggests it is part of a small, older multi-unit building (likely a conversion), as it is listed alongside several other units at the same address. Its year built (1913) is significantly older than most homes in Winnipeg.
• Who It Suits: This property would primarily suit a very budget-conscious first-time buyer seeking a bare-minimum equity position, or an investor looking for a low-cost rental unit. It could also appeal to a single occupant who prioritizes location over space and is prepared for the potential maintenance nuances of a century-old building. Its value is functional and financial, not based on luxury or size.

Frequently Asked Questions

1. What are the monthly condo fees, and what do they cover?
This is the most crucial question for this property. Given the age of the building (1913), understanding the fee structure and what reserves are in place for major repairs (roof, plumbing, foundation) is essential to evaluating the true cost of ownership.

2. Is the unit recently updated, and what is the in-suite condition?
At this price point and size, the interior condition is a major value driver. Knowing the age of key elements like the kitchen, bathroom, flooring, and electrical systems will help determine if immediate investments are needed.

3. How does the low assessed value impact property taxes?
A major advantage of this property is likely very low annual property taxes due to its minimal assessed value. Confirming the exact tax amount is a key part of calculating the total carrying cost.

4. What is the parking situation?
With older multi-unit buildings in central neighbourhoods, dedicated parking is not guaranteed. Clarifying whether a parking spot is included, or if street parking is the only option, is important for practicality.

5. What is the rental policy for the building?
For an investor or a buyer who may need to move in the future, understanding the building's rules on renting out units is vital. Some older condo corporations have restrictions on the number or percentage of units that can be rented.