Property Overview
This one-and-a-half storey home on Atlantic Avenue in Winnipeg's Inkster-Faraday neighbourhood presents a straightforward, value-oriented opportunity. Built in 1914, it features 1,060 sqft of living space, a detached garage, and a basement that has not been renovated. The home’s assessed value is notably below average for the city, reflecting its vintage and the modest, sub-2,600 sqft lot size.
Its primary appeal lies in affordability and location within a well-established community. The living space is practical and ranks respectably against immediate neighbours, suggesting it fits the scale of the street. This is a property for pragmatic buyers: first-time homeowners seeking an entry point, investors looking for a rental property with a lower initial outlay, or those who value a simple footprint over modern size expectations. It suits someone comfortable with a home that has history and may require updates, rather than someone seeking a turn-key or expansive property.
Frequently Asked Questions
1. What does the below-average assessed value indicate?
It primarily reflects the home's age, smaller lot size, and unrenovated basement when compared to the broader Winnipeg market. It suggests a potentially lower property tax burden and an accessible purchase price, but buyers should budget for maintenance and updates typical of a century-old home.
2. How does the living space compare to nearby homes?
At 1,060 sqft, it is slightly above the average for both Atlantic Avenue and the Inkster-Faraday area. This indicates the home offers a reasonably sized layout for its immediate locale, which can be a positive for daily livability compared to neighbouring properties.
3. Is the smaller lot size a significant drawback?
The lot is under 2,600 sqft, which is smaller than many city properties. This means less yard for gardening or expansion, but it also translates to less exterior maintenance. It could be an advantage for those seeking a low-maintenance outdoor space.
4. What can be inferred from the 2016 sale price range?
The prior sale in the $12.5k-$15.5k range, while dated, underscores the home's long-standing position as a deeply affordable property. It highlights a market segment with very low barrier to entry, but any current price should be evaluated against present condition and market trends.
5. What should a buyer investigate first?
Given the age and the note that the basement is "not renovated," a priority should be a thorough inspection of the foundation, structural integrity, and major systems (electrical, plumbing, roof). Understanding the condition and potential costs of the basement area is also crucial.