Property Overview & Key Characteristics
This one-storey home on Hethrington Avenue is a classic Winnipeg character property, built in 1910. Its primary appeal lies in its location within the established Lord Roberts neighbourhood and its surprisingly low property tax base, thanks to a municipal assessed value of just $17,900. The lot is a generous 2,498 sqft, ranking well above average for the street and city. However, the living space is compact at 600 sqft, placing it among the smallest in the area. The home has a basement, but it is not renovated, and there is no garage or pool.
This property would suit a specific type of buyer: someone seeking an entry point into a desirable central neighbourhood, willing to take on a significant renovation or rebuild project. It’s also a potential candidate for a long-term hold, given the low carrying costs relative to the land value. The appeal is less about the current house and more about the underlying asset—the land in a well-ranked location—and the opportunity it presents.
Frequently Asked Questions
1. Why is the assessed value so much lower than the last sale price?
Municipal assessments in Manitoba are not direct market valuations and can lag behind market trends. The low assessment results in very low property taxes, which is a financial advantage, but the sale price will be determined by current market conditions and the property's potential.
2. Is the house livable as-is, or is it a tear-down?
The listing notes an unrenovated basement, and the living area is notably small. A thorough inspection is essential. Given the data, buyers should budget for major updates or consider the feasibility of a new build, factoring in the costs and heritage character of the area.
3. How does the small living area compare to nearby homes?
The 600 sqft living area is in the bottom 2% for the street. Most comparable homes in Lord Roberts are nearly double the size. This highlights the property's status as an outlier, emphasizing its value as a land opportunity rather than a typical family home.
4. What is the neighbourhood of Lord Roberts like?
Lord Roberts is a mature, central neighbourhood near the Osborne Village and Corydon areas. It's known for its character homes, tree-lined streets, and walkable access to amenities. The property's lot size ranks in the top third for the neighbourhood.
5. What should I consider about the 1910 build date?
A home of this age requires careful attention to foundational integrity, wiring, plumbing, and insulation. While it offers charm, it also demands a proactive maintenance and renovation strategy. The unrenovated basement suggests these core systems may need early investment.