191 Bronx Place

Property Overview

191 Bronx Place presents a unique opportunity in Winnipeg’s Kildonan Drive area. Its key characteristic is its exceptionally low assessed value, which ranks in the bottom 1% locally and city-wide. The land size, while below average for the immediate street and neighborhood, is still a manageable 3,356 sqft. The home last sold in 2017 for a very modest price range.

The appeal here lies almost entirely in value and potential. This is not a move-in-ready premium property, but a foundational asset. It suits a very specific type of buyer: investors or hands-on owners looking for a low-cost entry into the market, where the value is in the land and the opportunity for improvement or redevelopment. It could also appeal to someone seeking minimal property tax liability. A less obvious perspective is that a home with such a low official valuation can represent a blank canvas, free from the premium associated with trendy renovations, allowing a buyer to create value on their own terms.

Frequently Asked Questions

1. Why is the assessed value so low?
The assessed value is significantly below area averages, ranking near the bottom locally. This typically reflects the home’s condition, size, or features relative to other properties, as assessed for municipal tax purposes.

2. What can the sold price history tell me?
The home sold in August 2017 for an approximate range of $13.5k to $16.5k. The exact price is available upon request. This history confirms a long-standing pattern of very low market value for this specific property.

3. Is this a good investment?
For the right investor, yes. The low entry cost minimizes initial financial outlay and ongoing property taxes. The potential return would depend heavily on the cost of renovations, redevelopment possibilities, and future market changes in the area.

4. What should I consider before viewing?
Prospective buyers should be prepared for a home likely requiring significant updates or even a full rebuild. Due diligence is crucial, including a thorough inspection, checking zoning bylaws for redevelopment, and understanding renovation costs versus the value it would create.

5. How does the land size impact potential?
At 3,356 sqft, the lot is smaller than most in the neighborhood but may still offer room for expansion or landscaping. Its development potential will be governed by the City of Winnipeg’s zoning regulations, which should be reviewed prior to making plans.