567 Enniskillen Avenue

Property Overview: 567 Enniskillen Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This is a compact, one-storey home built in 1924, featuring a renovated basement and a detached garage. With 610 square feet of living space on a 2,498 sqft lot, it is notably smaller than most homes in its immediate area, neighbourhood, and city-wide. This is reflected in its assessed value, which is well below average comparables.

The primary appeal lies in its affordability and simplicity. It represents a very accessible entry point into homeownership, with recent sale prices suggesting a low barrier to entry. The renovated basement adds functional living space, a valuable upgrade in a home of this size. This property would suit a first-time buyer, an investor looking for a rental property, or someone seeking a minimalist, low-maintenance lifestyle without a large mortgage. Its smaller scale could also appeal to those conscious of utility costs and upkeep time. A thoughtful perspective is that a home of this size and vintage, in a neighbourhood of generally larger lots, may present a unique redevelopment or expansion opportunity for the right buyer in the long term, given the land it sits on.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than the city-wide average?
The assessed value is based on specific property characteristics. This home has a significantly smaller living area and lot size than the typical Winnipeg home, which directly results in a lower valuation.

2. What does the "Top 99%" ranking for living area mean?
This statistic means the home's living area is in the bottom 1% compared to similar properties on its street. Essentially, it is among the smallest homes in its immediate peer group.

3. Has the property value increased over time?
Based on the available sold price ranges, the property sold for between $14.5k-$17.5k in 2017 and between $16.5k-$19.5k in 2022. This suggests a stable or modestly increasing value in that period, but exact figures would require verification.

4. What are the implications of a 1924 build date?
While the home has historic character, it is important to factor in the potential need for updates to major aging components, such as plumbing, electrical, or the roof, despite the basement renovation.

5. How useful is the detached garage?
The detached garage is a practical asset, especially in Winnipeg's climate, providing protected parking and storage. For a small home, this additional storage space is particularly valuable.