Property Overview: 635 Pasadena Avenue, Fort Richmond, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1938, offering a unique proposition centered on its land. With 700 sqft of living space, it is among the smallest homes in its neighborhood, city, and even on its own street. The basement exists but is unrenovated, and the property has no garage or pool. Its assessed value is notably low compared to city-wide averages.
The primary appeal lies in its substantial 7,560 sqft lot, which ranks well above average for Winnipeg. This presents a clear value in land ownership. The very low annual property taxes, reflected by the low assessment, are a significant financial consideration. This property suits a specific buyer: someone looking for a land-hold opportunity, a builder or investor planning a new build (subject to zoning), or a hands-on buyer seeking an extremely affordable entry into the market who is comfortable with a major renovation or rebuild project. It is not a move-in-ready home, but a foundation for future potential.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value is primarily based on the existing structure's market value. Given the home's small size, age, and lack of renovation, the structure contributes very little to the total assessment. The value is largely in the land itself.
2. Is this a teardown property?
While the existing home is livable, its characteristics (very small, older, unrenovated basement) and the appeal of the large lot make it a prime candidate for eventual redevelopment. Any buyer should investigate current zoning bylaws and development plans with the City of Winnipeg before purchasing with this intent.
3. What are the major ongoing costs?
The most notable cost is the annual property tax, which will be very low due to the low assessed value. This is a key financial advantage. Buyers should budget for typical utilities and maintenance, with the understanding that an older home may have higher upkeep costs.
4. Who would this property not suit?
It would not suit buyers looking for a modern, turn-key home, those who need ample indoor living space, or anyone requiring a garage. It is also likely not ideal for those unwilling to manage a significant renovation or construction project in the future.
5. The sales history shows prices around $25k-$30k. Is that accurate?
The displayed ranges are estimates based on public data. For the exact sale prices, you must request the information via the provided email service. This step is necessary due to the way certain sale data is recorded in Manitoba.