420 Rupertsland Avenue

Property Overview: 420 Rupertsland Avenue, Winnipeg

Key Characteristics & Appeal

This is a compact, one-storey home built in 1947, featuring 652 square feet of living space and a detached garage. It sits on a roughly 4,750 sqft lot. The home’s assessed value is notably low, and its living area is significantly smaller than most homes in its neighborhood, the Jefferson area, and Winnipeg overall.

Its primary appeal lies in its position as an accessible entry point into the housing market. The low assessment and historically modest sale price suggest a potentially lower purchase price, making it a candidate for budget-conscious first-time buyers, investors seeking a rental property, or those looking to minimize their property tax burden. The lot size is fairly typical for the area, offering standard outdoor space for its setting.

The property would best suit a buyer comfortable with a project. The basement exists but is noted as "not renovated," indicating that any finished living or storage space would require investment and vision. This isn't a move-in-ready showcase home; it's a functional starter property or a value-oriented investment where the land and location contribute more to the long-term value than the current structure. A thoughtful buyer might see potential in expanding the living space in the future, given the existing footprint and lot size.

Frequently Asked Questions

1. Why is the assessed value so much lower than the city-wide average?
Assessment is based on a combination of factors including home size, condition, features, and local market values. The very small living area and the unrenovated basement condition are significant contributors to this below-average assessment.

2. What does "Top 98%" for living area city-wide mean?
This statistic means that 98% of homes in Winnipeg are larger than this one. It clearly highlights that this is one of the smallest homes by living space on the market, which is a key factor in its pricing and assessment.

3. Is the unrenovated basement finished or usable?
The notation "not renovated" strongly suggests the basement is in a rough, unfinished state (likely concrete floors and walls, exposed utilities). It provides essential infrastructure but would require significant work to become livable space.

4. How recent is the sale price information?
The most recent recorded sale was in July 2023, with a price range between $23.5k and $26.5k. This provides a very recent benchmark for the property's market value.

5. What are the implications of buying such a small home?
It requires a lifestyle adapted to compact living. Storage solutions and efficient use of space will be essential. However, it also typically translates to lower utility costs, less maintenance, and a smaller physical footprint to manage.