Property Overview: 2 Vincent Street, Winnipeg
Key Characteristics & Appeal
This home at 2 Vincent Street in Maybank presents a distinct value-oriented profile. Its primary appeal lies in its efficient use of space and its position within its immediate neighborhood. At 1,032 sqft, the living area is notably above average for Vincent Street itself, ranking in the top 4% of the street. The lot size of 3,990 sqft is also generous for the local area, offering above-average outdoor space. Built in 1954, it is one of the older homes on the street, which may speak to its established character and mature landscaping.
The property’s standout feature is its very low assessed value ($23,100), which is below average for the street, neighborhood, and city. This creates a compelling opportunity for buyers seeking an entry point into homeownership or investors looking for a property with a low tax base. It would suit practical, value-conscious buyers—such as first-time purchasers or those looking to downsize—who prioritize lot size and interior space over a modern assessment value. The recent sale history (between $200k-$250k in 2019) suggests it operates in a different market segment than its official assessment, indicating a potential discrepancy that savvy buyers might explore.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
Assessed values are for municipal tax purposes and are based on mass appraisal models. A value this far below the city average can be due to a variety of factors, including the home's age, condition, specific location within the city, and the timing of the last assessment. It does not necessarily reflect the current market sale price.
2. What does the "Elite" ranking for living area on the street mean?
This means that, compared to the 28 homes on Vincent Street used in the comparison, this home's living area is larger than 96% of them. It is one of the more spacious homes on its own block, which is a key advantage in this location.
3. How recent is the sold price data, and how can I get the exact price?
The sold price range shown ($200k-$250k) is from a transaction in 2019. The listing service offers to provide the exact sale price via email upon request, as this precise data is not publicly displayed in full detail on their site.
4. The home is older (1954). Should I be concerned about major repairs?
As one of the older homes on the street, a thorough inspection is essential. While the age indicates potential for outdated systems, it also means the home is from a period of established construction in a mature neighborhood. The inspection will clarify the condition of the roof, foundation, wiring, and plumbing.
5. The lot is above average for the street but below average citywide. Is that a pro or a con?
This is primarily a pro for living on Vincent Street. You get a larger-than-typical yard for that specific block, which is valuable for privacy, gardening, or outdoor space. The citywide average includes newer suburbs with larger lots, which isn't a direct comparison for an inner-city neighborhood.