Property Overview: 290 Margaret Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, character home built in 1930, situated on a standard-sized lot in the Margaret Park neighbourhood. Its key defining characteristic is its modest scale: at 640 sqft, the living area is notably smaller than most homes in the immediate area, citywide, and even among its older peers on Margaret Avenue. This is reflected in its assessed value of $200k, which is significantly below the Winnipeg average.
The primary appeal lies in its position as an accessible entry point into the Winnipeg market. It represents a lower financial barrier to homeownership, potentially offering lower property taxes and utility costs due to its size. The lot, while below average for the city, provides outdoor space that is generous for the home's footprint. It last sold between $100k-$150k in 2020, suggesting a history as a value-oriented property.
This home would best suit a first-time buyer, an investor looking for a rental property, or a minimalist seeking a manageable space without a large yard to maintain. It’s a practical choice for someone prioritizing location within their budget over interior square footage. A less obvious perspective is that its older construction date (1930) might appeal to those interested in a home with pre-war character, though it likely requires a buyer comfortable with the maintenance and potential updates that come with a near-century-old structure.
Frequently Asked Questions
1. Why is the assessed value so much lower than the citywide average?
The assessed value is directly tied to the home's relatively small living area (640 sqft) and its age. It is consistently ranked in the bottom tiers for both value and size compared to other Winnipeg properties.
2. What does the ranking "Top 98%" for Living Area actually mean?
This statistic indicates that 98% of comparable homes in Winnipeg have a larger living area. In simpler terms, this home is in the smallest 2% by size when compared citywide.
3. How reliable is the sold price range shown for 2020?
The provided range ($100k-$150k) is based on public data. For the exact sale price, you must request it directly via the email service mentioned, as the company verifies and provides this detail manually.
4. Is the lot size a positive feature?
At just under 4,000 sqft, the lot is below the city average but is a typical size for its street and neighbourhood. It offers a balanced outdoor space that is manageable without being overly demanding.
5. Who should be cautious about this property?
Buyers with growing families or those who work from home and need dedicated office space may find the 640 sqft layout too restrictive. It necessitates efficient use of space and may not accommodate significant future needs without an addition.