Property Overview
This one-storey home at 671 Ebby Avenue in Winnipeg's Ebby-Wentworth neighbourhood presents a straightforward, no-frills opportunity. Built in 1947, it features 700 sqft of living space and sits on a roughly 3,860 sqft lot with a detached garage. Notably, it lacks a basement. The home last sold in June 2022 for $200,000, while its current assessed value is significantly lower at $26,600.
Key Characteristics & Appeal
The primary appeal of this property lies in its simplicity and its position as a potential entry point into the market. Its living space is compact, ranking below the average for the city, which suggests a manageable footprint for maintenance and heating costs. The lot size is fairly typical for its immediate street and area. The home would likely suit a first-time buyer, an investor looking for a rental property, or someone seeking a minimalist living situation without the complexity of a basement or extensive upkeep. Its assessed value being considerably lower than its recent sale price is a critical point for buyers to investigate, as it may influence property tax calculations but also indicates a potential discrepancy to be clarified.
A less obvious perspective is that a home of this vintage and size on its own lot, even without a basement, offers a rare blank canvas in today's market. It represents the raw fundamentals of homeownership—land and shelter—without premium finishes or additions, allowing the next owner to define its value through renovation or personal use.
Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sale price?
Municipal assessed value for taxation purposes often lags behind market sale prices and is calculated using different criteria. This discrepancy should be verified with the local assessment authority and considered when estimating annual property taxes.
2. What are the implications of not having a basement?
This means all mechanical systems (furnace, water heater) and living space are on the main floor. It eliminates concerns about basement moisture or flooding but also reduces storage and potential for additional finished living space.
3. How does the living area compare to nearby homes?
At 700 sqft, the home is below the average size for both Ebby Avenue and the broader Ebby-Wentworth area. This indicates a more compact living arrangement compared to many neighbours.
4. What is the neighbourhood like?
The home is in the Ebby-Wentworth area. Interested buyers should visit at different times to gauge traffic, noise, and neighbourhood activity for themselves, as this is a personal consideration.
5. Are there any obvious red flags from the provided data?
The significant difference between the 2022 sale price and the current assessed value is the most notable data point that requires explanation. It is advisable to understand the reasons behind this before making any decisions.