Property Overview
639 Polson Avenue is a compact, one-storey home in Winnipeg's Inkster-Faraday neighbourhood. Built in 1913, it offers 892 square feet of living space on a 3,312 sqft lot, with a basement that is present but not renovated. The home has no garage or pool. Its key appeal lies in its position as an affordable, no-frills entry point into the housing market. The assessed value is notably low, and historical sold price data suggests it has been a sub-$20,000 property in recent years. This is not a move-in-ready home for most; it suits buyers looking for a foundational investment—whether as a hands-on renovation project, a potential rental property with careful budgeting, or a land-value play in an established area. Its smaller size and vintage mean utility costs may be lower than for larger, newer homes, but it also implies that updates and maintenance will be a primary consideration from the outset.
Frequently Asked Questions
1. Is this a livable home, or purely a tear-down?
Based on the data, it is a standing house with a functional living area and basement. However, the note that the basement is "not renovated" and the very low assessed value suggest it requires significant work. Its livability depends entirely on a buyer's standards, budget for repairs, and willingness to renovate over time.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value of $18,300 reflects the property's smaller size, age, and likely condition compared to the broader Winnipeg market. It ranks in the bottom quartile city-wide, which is consistent with a home that is a candidate for substantial improvement or redevelopment.
3. What kind of renovation costs should I anticipate?
Without a detailed inspection, it's impossible to say. However, a home from 1913 will likely need attention to foundational elements, wiring, plumbing, and insulation before cosmetic updates. The unrenovated basement could present moisture issues. Budgeting for a full systemic overhaul is prudent.
4. Who would this property suit best?
It suits an investor, a contractor, or a very handy first-time buyer with a realistic renovation budget and timeline. It is less suited to someone seeking a turn-key home or who cannot manage a project with potentially unforeseen challenges.
5. How does the lot size impact its potential?
At just over 3,300 sqft, the lot is around average for the immediate area but below average city-wide. This limits potential for large additions or secondary suites without variances, but it may be sufficient for a renovated home with a modest backyard, aligning with the neighbourhood's character.