Property Overview: 160 Thom Avenue E, Winnipeg
Key Characteristics & Buyer Profile
This is a compact, one-storey home built in 1920, presenting a highly affordable entry point into Winnipeg’s housing market. Its key characteristic is its modest scale: with 560 sqft of living space and an assessed value near $20k, it ranks among the smallest and most economically valued properties in its neighborhood, area, and city-wide. The lot is just under 3,000 sqft, and the home features a basement (not renovated) and no garage.
The appeal lies squarely in its potential and position as a minimal financial commitment. It suits a very specific type of buyer: an investor looking for a low-cost rental property, a hands-on individual seeking an extremely affordable renovation project, or someone prioritizing absolute minimum property taxes and carrying costs. A less obvious perspective is its potential as a "foot-holding" property in the city—a way to build equity with very little capital outlay while deciding on a longer-term housing plan. It’s not suited for those needing move-in-ready space or room for a growing family.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's very small size, age, and likely condition relative to the broader market. It is characteristic of a niche segment of Winnipeg's most compact and economically priced housing.
2. What does "basement, not renovated" typically mean?
This usually indicates the basement is in original or utilitarian condition, suitable for storage or mechanical systems but not finished as living space. Buyers should budget for potential updates to meet modern standards.
3. Who would this property be a good fit for?
It is best suited for investors, renovation-focused buyers, or those seeking the absolute lowest entry cost into homeownership. Its scale makes it impractical for most families.
4. How does the lot size compare?
At 2,998 sqft, the lot is smaller than most in the area but still provides outdoor space. This can be a manageable advantage for those who want a yard without extensive maintenance.
5. How recent are the sale records, and how can I get exact prices?
The last recorded sale was in July 2022. Exact sold prices are not publicly posted online; the listing service offers to provide them via email upon request to ensure accuracy.