Property Overview: 204 Margaret Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a distinct value proposition centered on space and land. Its key characteristic is a generous 1,250 sqft living area, which is notably above average for both its immediate street and the broader Margaret Park neighbourhood. This is complemented by a sizable lot of nearly 5,000 sqft, offering ample outdoor space that is a rarity in many city areas. Built in 1947, it is a character home from the post-war era, typical for the area.
The primary appeal lies in its potential. With a sold price in the $250k-$300k range and a significantly lower assessed value, it represents a more accessible entry point into the market, particularly for a property of its physical scale. This combination of larger interior and land size at a competitive price point is its standout feature.
This property would suit a practical buyer or investor looking for space over finish. It’s ideal for a hands-on purchaser who values room to grow—whether for a family, a home business, or future renovations—and is less concerned with modern fixtures or a high assessed valuation. It’s a home for those who see utility in solid fundamentals and are comfortable with a property that may require updates.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sale price?
The assessed value is for taxation purposes and often lags behind market trends. A sale price significantly above assessment can indicate strong buyer demand for the property’s specific attributes (like its large lot and living area) in the current market.
2. What does the "below average" ranking for Year Built mean?
It means the home is older than many in its comparison groups. For this 1947-built home, it’s a neutral fact: it offers classic character but likely requires due diligence on the condition of aging components like wiring, plumbing, and the roof.
3. Is the large lot a benefit?
Absolutely. A 5,000 sqft lot in the city provides valuable outdoor space, garden potential, and room for additions like a garage or deck. It also represents a long-term asset, as land size is something that cannot be replicated in newer, denser subdivisions.
4. Who might this property not suit?
It may not suit buyers seeking a modern, turn-key home without projects, or those for whom a low property tax assessment is a top priority. The data suggests it’s a property valued for its utility and space rather than immediate curb appeal or premium finishes.
5. How should I interpret the sold price range?
The listed range is based on public data. To make a fully informed offer or understand precise market movement, you should request the exact sold price history from the provided service, as this will give you the most accurate benchmark.