Property Overview: 450 Parr Street, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1922, situated on a standard city lot in the Inkster-Faraday neighbourhood. Its primary characteristic is its modest scale: at 604 sqft, the living area is notably smaller than most homes on its street, in the area, and across Winnipeg. This is reflected in its assessed value, which is significantly below citywide averages. The home does feature a renovated basement, adding functional space. There is no garage or pool.
The appeal lies in its straightforward affordability and potential as a lean investment or entry point into the housing market. It suits a very specific buyer: someone seeking the lowest possible price point for a standalone house, willing to trade space for cost. This could be an investor looking for a rental property with minimal upfront capital, a first-time buyer prioritizing ownership over size, or someone needing a basic, no-frills dwelling. A thoughtful perspective is that its consistent below-average metrics are not necessarily negatives but define its niche—it offers a rare opportunity to own a house with property taxes likely based on its very low assessment, providing predictable, low carrying costs.
Frequently Asked Questions
1. Why is the assessed value so much lower than the citywide average?
The assessed value is based on the property's specific attributes—its small size, age, and location—compared to similar properties. It is in line with values for comparable smaller homes in its immediate area.
2. What does "renovated basement" include?
The listing confirms the basement is renovated but does not specify the details. This would require inquiry to understand the finish quality, ceiling height, and whether it includes a legal suite or additional living space.
3. Is this a good investment property?
Given its low purchase price and assessed value, it could offer a relatively low barrier to entry for a rental investment. However, its small size and specific location would determine the rental audience and potential return. Due diligence on area rental rates and property condition is essential.
4. How does the sold price history work?
The listed sold prices are estimated ranges from public data. To obtain the exact sale price from transactions in 2022 and 2024, you must request it via email from the site, as they manually provide this specific data.
5. What are the main compromises compared to an average Winnipeg home?
The primary compromises are space and amenities. You are purchasing significantly less living area than the typical Winnipeg home, no garage, and likely fewer modern updates given its age and value position. The trade-off is a proportionally lower cost.