Property Overview: 287 Leila Avenue, Winnipeg
Key Characteristics & Buyer Appeal
This home at 287 Leila Avenue in Margaret Park is a classic, no-frills property that presents a clear value-oriented opportunity. Built in 1948, its 770 sqft living area and $23.5k assessed value are notably below averages for its street, neighbourhood, and the wider city. This positions it as one of the more accessible entry points into the Winnipeg market. The appeal lies in its fundamentals: a manageable size on a decent 4,354 sqft lot, with a recent sale history (2024) providing concrete market context. It suits practical, budget-conscious buyers such as first-time homeowners willing to put in sweat equity, investors looking for a straightforward rental property, or those seeking a minimal footprint without a large mortgage. A less obvious perspective is that its lower assessed value can translate to relatively lower property taxes, a recurring cost savings. While it doesn't rank high in size or modern features, it offers a grounded starting point in a stable neighbourhood.
Frequently Asked Questions
1. What does it mean that the home's metrics are "below average"?
The home's living area, assessed value, and year built are below the typical averages for comparable homes on Leila Avenue, in Margaret Park, and across Winnipeg. This isn't necessarily negative; it primarily indicates a smaller, older, and more modestly valued property compared to others, which is reflected in its price point.
2. How recent is the sale history, and why is the price shown as a range?
The property sold in 2024. The sold price is shown as a range (CA$250k–300k) because it is based on publicly available data. The listing service offers to provide the exact sold price via email upon request.
3. Who would this property be a good fit for?
It's well-suited for first-time buyers or investors with a limited budget who are comfortable with a home that may require updates. Its manageable scale also appeals to those looking to downsize or minimize their living costs and property tax burden.
4. Is the lot size a positive feature?
The land area is about average city-wide but below average for the immediate area. It provides adequate outdoor space for a home of this size but is not an unusually large lot. It's a practical, standard-sized urban plot.
5. How can I get more context about this specific location?
You can use the provided link to "Open neighbourhood map analysis," which allows you to see this property on a map alongside nearby houses, comparing details like year built, living area, and lot size visually.