Property Overview & Appeal
This two-storey home on Stella Avenue presents a straightforward investment or entry-point into Winnipeg’s housing market. Its key characteristic is its very low municipal assessed value, which ranks in the top 2% city-wide, suggesting a potentially low property tax burden relative to other homes. Built in 1912, it sits on a lot that is larger than most on its street, offering a good amount of outdoor space for the area. The home has a functional, unrenovated basement and a living area that is typical for the neighbourhood.
The appeal lies in its position as a practical, no-frills property. It suits a specific type of buyer: an investor looking for a rental property with a low tax base, or a hands-on, budget-conscious first-time buyer willing to take on a home that likely requires modernization. The large lot offers a less obvious advantage—future potential for expansion or outdoor use that is uncommon on many inner-city properties. It’s a property valued for its land and fundamentals rather than its current finishes.
Frequently Asked Questions
1. What does the very low assessed value mean for me?
A low assessed value typically translates to lower annual property taxes. However, it can also indicate that the property may require significant updates, as assessments consider the condition and features of the home.
2. Is the basement finished?
No, the listing specifies the basement exists but is not renovated. Buyers should budget for any desired finishing and ensure a thorough inspection for a home of this age.
3. What is the neighbourhood like?
The home is in Lord Selkirk Park. The listing shows several similar, older homes in the immediate vicinity, suggesting a mature, established area. Prospective buyers are encouraged to visit at different times to gauge the community feel.
4. How does the living space compare?
At 1,152 sqft, the living area is fairly average for both the street and the wider neighbourhood. It’s a manageable size for a small household or as a rental unit.
5. The home is over 110 years old. What should I consider?
The age implies character and solid construction, but also necessitates a particularly thorough inspection for foundational integrity, wiring, plumbing, and insulation. Modernization costs should be a central part of your budgeting.