Property Overview: 1040 Howard Avenue, Winnipeg
Key Characteristics & Appeal
This is a modest, mid-century bungalow in Maybank, built in 1954. With 720 sqft of living space on a roughly 4,700 sqft lot, it sits around or slightly below the average for its immediate street and neighbourhood in terms of size and age. Its most defining characteristic is its assessed value, which is notably low—it ranks at the very bottom on Howard Avenue and below average in wider comparisons. This resulted in recent sale prices that were competitive, with the 2024 sale in the $250k-$300k range performing well against city-wide averages.
The primary appeal lies in its value proposition and lot potential. It represents an entry point into the market with a manageable footprint and a standard residential lot. The home suits first-time buyers or practical investors looking for a lower-cost holding with redevelopment potential down the line. Its straightforward, no-frills nature also appeals to those seeking a functional starter home without the premium of a modern renovation, viewing it as a canvas for future updates. A thoughtful perspective is that its below-average assessment, while reflecting the home's condition, could present a long-term tax advantage relative to neighbouring properties.
Frequently Asked Questions
1. Why is the assessed value so much lower than other homes?
Assessed value is primarily based on the property's market value for tax purposes. This home's low assessment consistently ranks below area averages, likely reflecting its older construction, modest size, and condition compared to updated or larger homes nearby.
2. What does the "Top %" ranking mean for the 2024 sale price?
The 2024 sale price ranking in the "Top 64%" city-wide means it performed better than 64% of comparable sales, indicating it was a competitively priced transaction in the broader Winnipeg market at that time.
3. Is the lot size suitable for an addition or redevelopment?
The lot is approximately 4,724 sqft, which is around the neighbourhood average. This is generally sufficient for a potential addition or future redevelopment, subject to City of Winnipeg zoning bylums and permitting.
4. How does this home compare to the ones listed as "Worth viewing" or "For reference"?
The comparison properties (e.g., 1016 Clarence Ave) are provided as neighbourhood benchmarks. They typically have more recent build years, larger living areas, and higher assessed values, illustrating what is available at different price points in Maybank.
5. How can I get the exact historical sold price?
The exact sale prices are not publicly displayed in detail. You can request them via email through the provided form on the listing page. The service commits to providing the accurate figure manually, without using your email for unsolicited marketing.