Property Overview: 724 Polson Avenue
Key Characteristics & Appeal
This one-and-a-half storey home on Polson Avenue is a practical, no-frills property built in 1945. With 1,127 sqft of living space and a 3,744 sqft lot, its size is consistently around the average for its immediate street and Inkster-Faraday neighborhood. A detached garage adds functional value.
The primary appeal lies in its position as an accessible entry point into the Winnipeg market. Its assessed value is notably below average for the city, which often translates to lower property taxes, a significant long-term savings. The home suits buyers with a clear vision for gradual improvement, such as first-time homeowners comfortable with a property that needs updates, or investors looking for a straightforward rental opportunity in a neighborhood of similarly valued homes. Its unassuming character offers a blank canvas without the premium price of a fully renovated or larger lot, making it a pragmatic choice over a prestige one.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
Assessed value is for municipal tax purposes and is influenced by the home's age, condition, and market values in its immediate area. This valuation reflects the property's standing within a neighborhood of more modestly valued homes, not necessarily its potential sale price.
2. What does "one-and-a-half storey" mean for living space?
Typically, this style features a main floor with principal rooms and a second floor under sloped roofs, creating cozy bedrooms or attic spaces. It offers a classic layout but may have less full-height square footage on the upper level compared to a two-storey home.
3. How recent are the sold price figures provided?
The last recorded sale was in September 2022. For the most accurate and current market valuation, consulting a local real estate agent for a comparative market analysis is recommended.
4. Is the lot size sufficient for additions or a garden?
At just under 3,800 sqft, the lot is fairly standard for the area. It provides adequate backyard space for family use or gardening but may have limitations for major expansions, subject to local zoning bylaws.
5. What are the implications of the home's age for a buyer?
Built in 1945, the home likely has character but may require attention to older electrical, plumbing, or insulation systems. A thorough pre-purchase inspection is essential to understand the condition and plan for any necessary updates or maintenance.