Property Overview & Appeal
This one-storey home at 355 Belmont Avenue is a notably compact and affordable property in Winnipeg's Jefferson neighborhood. Its key characteristic is its size: at 440 square feet of living space, it is among the smallest homes in the city. Built in 1946, it sits on a standard lot for the immediate area and features a detached garage. The primary appeal lies in its exceptionally low financial barrier to entry, reflected in its assessed value, which is a fraction of the city-wide average. This is a property defined by practicality and potential rather than immediate move-in readiness or space.
It would suit a specific type of buyer: an investor looking for a straightforward rental opportunity, a hands-on individual seeking an ultra-affordable entry into homeownership with plans to renovate or expand, or someone needing a minimal-footprint residence close to the city. Its value proposition is rooted in land ownership and location at a very low cost, presenting a clear "fixer-upper" or strategic investment scenario.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value is closely tied to the home's very small size (440 sq ft) and likely its condition and features. It is assessed comparably to other very modest homes in the city, not to average-sized family houses.
2. Is this a "tiny home"?
While its living area is comparable to some modern tiny homes, this is a traditional, older house on its own lot. It offers the permanence and zoning of a standard residential property, which differs from many movable tiny home setups.
3. What would the monthly costs be like?
Property taxes would be very low due to the low assessment. Utility and maintenance costs could also be minimal given the small space, though costs will depend on the condition of major systems like heating, roof, and wiring.
4. Is there potential to expand the living space?
The lot size is standard for the street, so there may be physical space to consider an addition or a significant renovation to increase square footage, subject to city zoning and building permits.
5. The last sold price range seems close to the assessed value. Is that accurate?
For unique, very small, or fixer-upper properties, the sale price often aligns more closely with the assessed value than with area averages for typical homes. The 2017 sale price suggests it has been consistently valued as a land-value proposition with a minimal structure.