Property Summary: 218 Darwin Street, Winnipeg
Key Characteristics & Buyer Profile
This home presents a specific value proposition centered on its below-average municipal assessed value and compact size. At 864 sqft, the living area is notably smaller than most homes on its street, in the Minnetonka area, and across Winnipeg. The lot size of 4,407 sqft is also modest, particularly for the immediate neighbourhood. However, this translates to a very low assessed value ($33,900), which is significantly below local averages but closer to the middle range city-wide. The home was built in 1974, aligning with the average age of housing in its surrounds.
Its primary appeal lies in affordability and efficiency. It suits first-time buyers or investors seeking an entry point into the Winnipeg market with lower property taxes tied to its assessment. It could also appeal to downsizers or those seeking a minimalist footprint without a large yard to maintain. A less obvious perspective is its potential as a strategic hold in an area where the land value may be insulated due to the larger lots surrounding it, offering future redevelopment potential relative to its current improvement value. The sale in 2023 within the $300k-$350k range suggests market activity at a price point that accounts for its compact nature.
Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sale price?
Municipal assessed value for taxation purposes is not the same as market value. The sale price reflects what a buyer was willing to pay in the open market, while the assessment is a standardized valuation formula applied across the city, often lagging behind rapid market shifts.
2. How does the small lot size affect the property?
While the lot is smaller than others on the street, it requires less maintenance. The impact depends on your priorities; it limits expansion or large landscaping projects but offers manageable upkeep.
3. Is the smaller living area a concern for resale?
It defines the property's niche. It will appeal to a specific segment of the market (as outlined above) and may not suit families needing more space. Its appeal is tied to efficient use of the available square footage.
4. What does the "Top %" ranking mean for each feature?
It indicates how this property compares to a peer group. For example, a "Top 96%" rank for assessed value on its street means its value is higher than only 4% of comparable homes—so it's one of the lowest on the street. Conversely, a rank near 50% would be average.
5. The sold price history shows a range. How can I get the exact price?
The exact sale price is not publicly displayed in all records. You can request it directly via the email link provided on the listing page; the service aims to provide the accurate figure manually by the end of the same business day.