Property Overview & Key Characteristics
This 832 sqft home, built in 1977, is a compact and affordable entry point into Winnipeg’s Marlton neighbourhood. Its primary appeal lies in its exceptional value positioning within the market. The property ranks in the top 1% of its street and the top 0% of both its community and all of Winnipeg for its lot size, suggesting a potentially larger-than-average yard for the area, which is a significant but less obvious advantage. While the home itself is modest in size and age, its recent sale in August 2023 for $147,000 (below its current assessed value of $159,000) indicates a competitively priced opportunity. With no basement or garage, it presents a low-maintenance lifestyle.
This property would best suit first-time buyers or investors seeking a straightforward, cost-effective foothold in the city. Its manageable scale and price point are ideal for those prioritizing land value over square footage, or for someone looking for a renovatable canvas without the complexity of a larger structure. The strong rankings suggest it’s a standout property on its specific street, offering more privacy or outdoor space than most of its immediate neighbours.
Frequently Asked Questions
1. What does ranking in the "top 0%" for lot size actually mean?
It means this property's land area is larger than 100% of compared homes in its community and all of Winnipeg, placing it in the very top tier. On its street, it's in the top 1%. This is the home's most competitive statistical feature.
2. The home is smaller and older than many in the area. Where is the value?
The value is primarily in the land. You are acquiring a proportionally large lot in a well-established neighbourhood at an accessible price point. The home itself is a functional, low-maintenance starting point.
3. Are there any major concerns with a 1977 build without a basement?
It depends on maintenance history. The absence of a basement eliminates flood risk and can reduce heating costs, but also limits storage and mechanical space. A thorough inspection for aging components (roof, wiring, plumbing) is essential.
4. Who might this property not be suitable for?
It may not suit growing families needing more indoor space, those requiring significant storage or a garage for vehicles/workshops, or buyers seeking a modern, turn-key home without renovation projects.
5. The 2023 sale price is below the current assessed value. Why is that significant?
It suggests the purchase price was a market-driven bargain at the time. It provides a recent, solid benchmark for value and could indicate potential for equity growth, especially if the larger lot size is leveraged through future expansion or landscaping.