Property Overview: 712 Polson Avenue
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1945, situated on a standard-sized lot in the Inkster-Faraday neighbourhood. Its key characteristic is its exceptionally low price point, reflected in both its recent sold history and its assessed value, which ranks well below averages for the street, area, and city. With 600 sqft of living space, it is notably smaller than most Winnipeg homes.
The primary appeal lies in its potential as a minimal-entry point into the housing market. It suits a very specific type of buyer: those seeking absolute affordability above all else, such as an investor looking for a straightforward rental property, a hands-on buyer planning a significant expansion or rebuild, or someone seeking the lowest possible carrying costs. A less obvious perspective is that its older vintage (1945) is actually above average for its immediate area, suggesting it may be among the more mature homes on the block. Its value is fundamentally in the land and location, not the current structure.
Section 2: Frequently Asked Questions
1. Why is the price so much lower than other homes?
The living area is significantly smaller than typical homes, and the assessed value is among the lowest in the city. This indicates a property valued primarily for its land or as a basic shelter, not for its current structure or size.
2. What type of renovation or work might it need?
Given its age (81 years) and low valuation, buyers should budget for major systems updates (like plumbing, electrical, or foundation) and likely a full modernization. It may be a candidate for a substantial addition or complete rebuild.
3. Is this a good investment property?
Its low purchase price could result in a favorable rental yield for an investor comfortable with managing an older, smaller property. However, potential repair costs and the niche tenant market (those seeking very small spaces) must be carefully considered.
4. How does it compare to the house next door?
The provided data shows nearby properties on Polson Avenue have similar lot sizes, but this home's living area and assessed value are below the street's average, meaning it is likely a more modest structure compared to its immediate neighbours.
5. Can I get the exact historical sale prices?
Yes, but not automatically. The exact sold prices are provided manually by the listing service upon email request to protect precise transaction details, though approximate price ranges are publicly shown.