Property Summary: 611 Polson Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1911, situated on a standard-sized lot in the Inkster-Faraday neighbourhood. Its key characteristic is its affordability, reflected in a well-below-average assessed value. The living space of 887 sq ft is modest, ranking below average for the city, and the home features a detached garage and an unrenovated basement.
The primary appeal lies in its position as a potential entry point into the Winnipeg housing market. It suits buyers with a limited budget, such as first-time homeowners or investors seeking a rental property, who are prepared for a home that likely requires updates. A thoughtful perspective is that its older age and smaller size could translate to lower utility costs and simpler maintenance compared to larger, newer homes. It represents a practical, no-frills opportunity where the value is in the land and the structure, offering a canvas for future improvement.
Section 2: Frequently Asked Questions
1. What does "below average" for assessed value actually mean?
The home's assessed value is significantly lower than most comparable properties in Winnipeg, indicating its official valuation is in the bottom 15% citywide. This typically correlates with a lower purchase price and property taxes.
2. Is the unrenovated basement finished or usable?
The listing specifies the basement is "not renovated." Buyers should assume it is in original or rough condition, suitable for storage and utilities but not finished living space, and budget accordingly for any desired improvements.
3. How does the lot size compare to others?
At just under 4,000 sq ft, the lot is fairly typical for its immediate street and area, though smaller than the Winnipeg city average. It provides standard outdoor space for a home of this era and type.
4. The home sold in 2019 for a very low price. Why?
The sold price history shows a range of $14.5k-$17.5k in 2019, which is consistent with its low assessed value. This confirms the property's longstanding position as a deeply affordable option, likely due to its age, size, and condition.
5. Who would this property not suit?
It would not suit buyers looking for a move-in-ready home, those needing significant living space, or anyone unwilling to take on potential renovation projects, especially given the age of the home and the state of the basement.