Property Overview: 623 Anderson Avenue, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home on Anderson Avenue in the Inkster-Faraday neighbourhood presents a practical and affordable entry point into Winnipeg’s housing market. Built in 1913, its 1,044 sqft living area and renovated basement offer functional space for a small household. The home’s key appeal lies in its relative value; its assessed value is notably below both the citywide average and recent local sale prices from 2022, suggesting potential equity for a buyer. The detached garage adds practical utility.
Its characteristics are consistently average or slightly below average for its immediate street and neighbourhood in terms of lot size, living space, and age, indicating it fits the established fabric of the area without standing out. This suits first-time buyers, investors, or downsizers seeking a straightforward, no-frills property in a mature neighbourhood. A thoughtful perspective is that its "around average" metrics for the area mean it’s unlikely to be over-improved for the street, which can be a financial advantage, and its lower assessed value could translate into manageable property taxes.
Frequently Asked Questions
1. How does the assessed value compare to recent sale prices?
The home was assessed at $17,700. Public data indicates it sold in March 2022 for an estimated range of $21,500 to $24,500, which is significantly higher. This discrepancy is important to discuss with a real estate professional for current market valuation.
2. What does the "renovated basement" include?
The listing notes the basement is renovated but does not specify the scope or quality of the work. Buyers should inquire about the permits, finish quality, ceiling height, and whether it includes a separate entrance or rental suite potential.
3. Is the smaller lot size a concern?
At 3,068 sqft, the lot is below average for Anderson Avenue. This may mean a smaller yard but could also mean less maintenance. It’s worth checking setback requirements and the potential for any future additions.
4. How does the age of the home (1913) affect it?
While the home has been maintained, its age means potential buyers should pay special attention to the condition of major systems (plumbing, electrical, foundation) and the roof. A thorough inspection is highly recommended.
5. Are the property taxes likely to be low?
Given the assessed value is significantly below both citywide and recent sale price averages, the property taxes are likely to be comparatively low for Winnipeg, which is a definite financial benefit for the owner.