Property Summary: 5-523 Osborne Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, no-frills property in Winnipeg's Lord Roberts neighbourhood, directly on Osborne Street. Its key characteristic is its exceptionally low municipal assessed value ($9,200), placing it in the bottom 10% for the street and the bottom 2-4% citywide. The living space (570 sq ft) is also well below average for the area, and the building dates to 1955, making it older than most nearby homes.
The appeal lies squarely in its position as a minimal-entry point into a central, high-demand area. It suits a very specific type of buyer: an investor looking for a straightforward, low-cost rental opportunity, or a highly budget-conscious individual seeking the lowest possible price to gain a foothold in the neighbourhood. The value proposition is location over space or condition. A less obvious perspective is that such a low-assessment property could represent a calculated play for someone willing to invest in renovations, as the tax base would remain relatively low even after significant improvements. It’s a pragmatic choice for those prioritizing asset location and cash flow over immediate comfort or square footage.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than other properties on the same street?
The assessed value is based on factors like living area, age, and condition. At 570 sq ft and built in 1955, this unit is significantly smaller and older than the area average, which directly results in its lower valuation.
2. What type of living situation is this property?
The address format and proximity to identical unit numbers (e.g., 1-523, 2-523 Osborne) indicate this is almost certainly a condominium or apartment-style unit within a multi-unit building or complex, not a standalone house.
3. How current is the sold price information shown?
The last recorded sale was in 2017, with a price range of $100k-$150k. For the exact sale price, you must request it directly via the provided email service, as this data is manually verified.
4. Is this a good investment property?
Given its low assessed value and central location on Osborne, it has the fundamentals for a basic rental investment. However, its below-average size and age mean potential returns would depend heavily on current condition, condo fees (if applicable), and market rental rates for very compact units.
5. What does the "rank" and "top X%" data mean for me?
These metrics compare this property to others. For example, "Top 81%" for living area means its square footage is greater than only 81% of comparable units on Osborne Street—so it's in the smaller 19%. This data helps you objectively gauge how it stacks up against immediate and city-wide benchmarks for size, value, and age.