Property Overview
This home at 20 Minnetonka Street presents a specific value proposition centered on its lot and location. Built in 1972, the 988 sqft house is modest in size compared to many in its immediate area and across Winnipeg. However, its assessed value of $40.9k is notably strong for Minnetonka Street itself, ranking in the top 26% of the street. The standout feature is the 5,299 sqft lot, which offers below-average density for the neighbourhood, providing more private outdoor space than many nearby properties. Recent sale activity indicates strong demand, with a sale in the $450k-$500k range in 2022 ranking in the top 5% for the street.
Its appeal lies in the potential of the land relative to the house. It suits a buyer comfortable with a smaller, older home who prioritizes a larger yard in a established neighbourhood. It could be ideal for a first-time buyer looking for a footprint to grow into, an investor seeing long-term value in the lot size, or someone seeking a lower-maintenance interior with outdoor space for gardening or pets.
Frequently Asked Questions
1. Why is the living area below average, but the assessed value is above average on the street?
This suggests the value is driven by factors beyond just the home's square footage. The larger lot size, the property's condition, specific location on the street, and recent market sales likely contribute to a higher assessment relative to other homes on Minnetonka.
2. How does the 2022 sale price relate to the current assessed value?
The assessed value for tax purposes ($40.9k) is not a market valuation. The 2022 sale price ($450k-$500k) reflects the actual market value at that time. The significant difference is normal, as property tax assessments in Manitoba are typically a fraction of market value.
3. What does the lot size ranking mean for me?
While the lot is smaller than most in the Minnetonka area, it is closer to the city-wide average. This means you likely get more yard space than a typical Winnipeg home, but slightly less than your immediate neighbours. It offers a balance of outdoor space without an excessively large yard to maintain.
4. Is a house from 1972 a concern?
The build year is around average for the area and city. Homes of this age may have undergone updates, so the condition of major systems (roof, windows, plumbing, electrical) and any renovations will be more important than the build date itself. It’s from an era before many modern building codes.
5. How can I get the exact historical sale price?
The provider offers a manual service to share the exact sale price from their records. You can submit your email via the button on the listing, and they aim to reply with the accurate figure by the end of the same day, without using your email for marketing.