Property Overview: 314 Regent Avenue W, Winnipeg
Section 1: Key Characteristics & Appeal
This home is defined by its modest scale and exceptional affordability. Built in 1920, its 624 sqft living area is notably compact, ranking it among the smallest homes in the Melrose area and citywide. The lot size of 3,700 sqft is more typical for the immediate neighbourhood. The most striking characteristic is its assessed value of $15,200, which is significantly lower than averages for the street, area, and city, indicating very low property taxes.
Its primary appeal lies in being a true entry-point into homeownership with minimal ongoing tax liability. It last sold for an estimated $150k-$200k in 2022, reinforcing its position as a budget-conscious option. The appeal is less about the home itself and more about the land and location at an accessible price point.
This property would best suit a highly cost-sensitive buyer, such as a first-time investor looking for a rental property with low carrying costs, or a hands-on owner willing to live minimally while potentially expanding or redeveloping the existing structure in the future. It is not suited for those needing move-in-ready space or conventional room layouts.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the likely sale price?
Assessed value for tax purposes is not the same as market value. This low assessment suggests the property has not been substantially renovated or reassessed in some time, resulting in low annual property taxes—a key financial benefit for the owner.
2. What can I realistically do with a 624 sqft home?
This requires efficient use of space. It may function as a one-bedroom home or a compact two-bedroom. Buyers should plan for creative storage solutions and multifunctional rooms. The value may be in its potential for a careful addition or as a candidate for eventual replacement, subject to local zoning.
3. The home is over 100 years old. What should I be concerned about?
A home from 1920 will likely require thorough inspections for foundational integrity, outdated wiring, plumbing, and insulation. While it has stood for a century, maintenance and modernization costs should be a central part of your budgeting.
4. How does the lot size compare, and does it offer potential?
At 3,700 sqft, the lot is fairly average for the Melrose area but below the Winnipeg average. It does provide a decent outdoor space relative to the home's small footprint and could allow for a garden, shed, or future expansion if bylaws permit.
5. Where can I find the exact historical sale price?
The listing service provides estimated sale price ranges from public data. You can request the exact sale price by emailing them directly; they provide this verified information manually upon request at no cost.