711 Ebby Avenue

Property Overview

This 720 sqft, one-storey home on a 3,600 sqft lot at 711 Ebby Avenue presents a specific and practical opportunity. Built in 1928, it features a basement that is noted as being unrenovated and does not include a garage. The home recently sold for $260,000 in December 2024, while its municipal assessed value is significantly lower at $19,600. Key metrics show it is a smaller, older property compared to most in its immediate neighborhood, on its street, and across Winnipeg.

Section 1: Key Characteristics & Appeal

The primary appeal of this property lies in its position as an affordable entry point into the Winnipeg market. Its below-average living area and older vintage suggest it is a straightforward, no-frills home, likely requiring updates. The lot size is fairly standard for the Ebby-Wentworth area, offering typical outdoor space for the community.

This home would best suit a buyer with a clear vision for gradual improvement, such as a hands-on first-time homeowner comfortable with a project, or an investor looking for a rental property with a low entry cost. Its unrenovated basement represents potential for future living or storage space. A less obvious perspective is that its very low assessed value, while not reflective of market price, could be a point of consideration for future property tax calculations, though new assessments typically follow a sale.

Section 2: Frequently Asked Questions

1. Why is there such a large gap between the sale price ($260k) and the assessed value ($19.6k)?
Municipal assessed values in Manitoba are based on a prior valuation date and specific methodology, and they often lag significantly behind rapid market changes. The sale price reflects the current market value as determined by a buyer and seller.

2. What does "below average" for living area mean in context?
The home's 720 sqft is smaller than most comparable homes in its immediate area. For example, the average in Ebby-Wentworth is about 1,022 sqft. This indicates a compact living footprint.

3. Is the unrenovated basement finished or usable?
The listing specifies it is "not renovated," which typically means it is in a rough, unfinished state (concrete floors, exposed framing/mechanicals). It offers potential but would require investment to become livable space.

4. How does the lot size compare?
At 3,600 sqft, the lot is around the average for the Ebby-Wentworth neighborhood. It is not unusually small or large for the area, providing a standard yard space.

5. The home is noted as older than most on the street. Should I be concerned?
A 1928 build means systems like wiring, plumbing, and the roof may be older or have been updated over time. A thorough inspection is essential to understand the condition and any needed repairs, which is typical for homes of this age.