Property Overview: 2-523 Osborne Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, 544 sqft property built in 1955, located on Osborne Street in the Lord Roberts neighbourhood. Its most defining characteristic is its exceptionally low assessed value, which ranks in the bottom 1-2% compared to homes on its street, in its area, and citywide. The living space is also notably smaller than most comparable properties.
The primary appeal lies in its position as a highly accessible entry point into a central and desirable Winnipeg neighbourhood. It suits a very specific buyer: someone seeking the lowest possible cost of entry to own property in the area, likely prioritizing location over space. This could be an ideal first-time buyer with a tight budget, an investor looking for a minimal-cost rental unit, or someone seeking a minimalist, low-overhead lifestyle in the heart of the city. A less obvious perspective is that a property with such a low fixed cost base (like taxes tied to assessment) can provide significant financial flexibility, allowing an owner to invest in renovations over time while still maintaining below-average carrying costs.
Section 2: Frequently Asked Questions
1. Why is the assessed value so low?
While the exact municipal assessment formula isn't public, a value this far below area averages typically reflects the property's smaller size, older age, and likely its specific condition or unit type (possibly a smaller condominium or fractional share of the building).
2. What type of dwelling is this?
The address format ("2-523") and the listing of several units at the same street number suggest this is one unit within a multi-unit property, such as a condominium, townhouse complex, or duplex.
3. Can I get the exact historical sale price?
The public data shows a sale between $50k-$100k in 2021. The listing service offers to provide the exact sale price upon request via email, which they handle manually.
4. What are the ongoing costs (like condo fees)?
This listing does not include that information. Any offer should be conditional on a review of the status certificate (for a condo) or a full disclosure of monthly fees, special levies, and the building's reserve fund.
5. Is this a good investment?
Its potential hinges on the specific financials (fees, condition, rental rates) not detailed here. The low entry cost reduces initial risk, but the very low assessment may also indicate limitations in appreciation potential or significant upcoming maintenance costs shared among owners. Thorough due diligence is essential.