Property Overview
This one-storey home at 571 Atlantic Avenue in Winnipeg's Inkster-Faraday neighbourhood presents a straightforward, entry-level opportunity. Built in 1913, its key characteristic is its modest scale, with 690 square feet of living space on a 2,353 square foot lot. The home has a detached garage and an unfinished basement. Public data indicates it last sold in late 2020 for approximately $10.5K-$13.5K, and its current assessed value is $15,200, which is notably below city-wide averages.
Section 1: Key Characteristics & Appeal
The primary appeal of this property lies in its extreme affordability and minimal financial barrier to entry, particularly for the land and location. It suits a very specific buyer: someone seeking an ultra-low-cost footprint in the city, potentially for land banking, as a minimalistic living project, or as a hands-on renovation opportunity with a tight budget. Its below-average size and value metrics across the street, neighbourhood, and city suggest it's not a conventional family home but rather a utilitarian asset.
Thoughtful perspectives include viewing it as a canvas for creative small-space design or as a strategic hold in an area where future land value appreciation could outweigh the current state of the structure. It would likely suit an investor, a first-time buyer willing to live minimally while slowly improving the property, or someone needing a simple, low-overhead property for specific personal or business use.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the property's modest size, age, and condition relative to most homes in Winnipeg. It is consistent with values for smaller, older homes in its immediate area.
2. What does "basement, not renovated" imply?
This indicates the basement exists but is in an unfinished or original state. Buyers should budget for potential updates to make it a functional living or storage space and investigate standard concerns like moisture, insulation, and foundational integrity common in century-old homes.
3. Who would this property be most suitable for?
It is best suited for budget-conscious buyers, investors, or individuals comfortable with a project. It's a practical choice for those prioritizing low upfront cost over move-in-ready condition or spaciousness.
4. How does the lot size compare to others?
At 2,353 sq ft, the lot is smaller than average for both the street and the city. This means lower maintenance but also limited space for expansions or additions, which is an important consideration for future plans.
5. Where can I find exact historical sale prices?
The provider offers to share exact sold price history manually via email upon request, as the figures displayed on the site are estimated ranges from public data.