Property Overview
This one-storey home at 643 Anderson Avenue is a compact, no-frills property built in 1907. Its key characteristics are its modest 660 sqft living area, a detached garage, and an unfinished basement. The lot is smaller than average at 2,215 sqft. The home's assessed value is notably low, ranking in the bottom percentiles city-wide. Its last known sale was in 2017 for a price between $9,500 and $12,500.
Section 1: Key Characteristics & Appeal
The primary appeal of this property lies in its extreme affordability and straightforward utility. It represents a bare-minimum entry point into homeownership, with very low property taxes due to its minimal assessed value. Its small size and single storey make it manageable, potentially suiting someone seeking a basic shelter with outdoor space without the burden of a large mortgage or complex maintenance.
This home would suit a specific type of buyer: a hands-on individual or investor looking for the absolute lowest-cost property in the city. It is a candidate for a complete renovation or could serve as a rental property with minimal overhead. It is not suited for those needing modern finishes, space, or who are not prepared for the significant updates a 119-year-old home likely requires. A less obvious perspective is its potential as a "land bank" play—the value may be anchored more in the ownership of the land in a developed area than in the current structure, offering long-term holding potential.
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 very small size, age, and likely condition compared to the broader Winnipeg market. It is characteristic of a home that requires substantial modernization.
2. What does the ranking data (e.g., "Top 92%") actually mean?
These rankings show how this property compares to others. For example, "Top 92%" for living area means its square footage is greater than only 8% of comparable homes, placing it in the bottom 8% for size. This pattern holds across all metrics, confirming it is a notably smaller, older, and lower-valued property than most.
3. Is the unfinished basement a drawback?
It depends on your goals. It is not renovated living space, which limits the home's immediate functionality. However, it provides essential utility access and storage, and for a renovator, it represents a blank slate for future development.
4. What can the 2017 sale price tell me about today's value?
While it shows a historical benchmark for extreme affordability, it is not a direct indicator of current market value. It does, however, firmly establish the property's position at the very low end of the market.
5. Who would this property not be suitable for?
It is not suitable for families needing multiple bedrooms or modern amenities, buyers unwilling to undertake renovations, or those who prioritize investment in a move-in ready home. Its appeal is highly specific to budget-focused and project-oriented buyers.