Property Summary: 209 Margaret Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, historic home built in 1932, situated on a standard-sized lot in the Margaret Park neighbourhood. Its key characteristic is its modest scale, with a living area of 623 sqft that is notably smaller than most comparable homes locally and city-wide. The assessed value is proportionally low, reflecting its size and age.
The appeal lies in its affordability and simplicity. It represents a genuine entry point into the Winnipeg housing market with a lower financial barrier, potentially appealing to first-time buyers, investors seeking a rental property, or those looking to downsize significantly. The lot size is consistent with the area, offering standard outdoor space. A thoughtful perspective is that a home of this size and vintage could suit someone seeking a minimalist lifestyle without the upkeep of a larger property, or an investor looking for a lower-cost asset in a mature neighbourhood.
Section 2: Frequently Asked Questions (FAQs)
1. Why is the living area so much smaller than the neighbourhood average?
As a home built in 1932, its floor plan reflects the norms and needs of that era. Many homes in the area have been expanded or were built larger in subsequent decades, making this a more compact, original footprint.
2. What does the "below average" assessed value mean for property taxes?
A below-average assessed value typically results in a below-average municipal property tax bill, which is a key ongoing cost saving for the owner.
3. Is this a fixer-upper or a teardown candidate?
Given its age and smaller size, buyers should be prepared for potential updates. Whether it's a renovation or redevelopment project depends on its structural condition and the buyer's goals, but its value is primarily in the land and location.
4. How reliable is the sold price range shown (CA$150k–200k for 2021)?
The range is based on available public data. For precise historical sale figures, you must request the exact data directly from the source providing this summary.
5. The home is older than most in the area. Will that affect insurance or financing?
Possibly. Some insurers or lenders may have specific requirements for older homes, such as updated electrical or plumbing systems. It’s advisable to investigate this early in the process.