Property Overview
639 Greenwood Place is a compact, nearly century-old home in Winnipeg's Minto neighbourhood. Its key characteristics are defined by its modest scale and its position relative to the surrounding market. The home offers 792 square feet of living space, which is notably smaller than most comparable homes on its street, in Minto, and across the city. It sits on a 3,733 sqft lot that is larger than many in the Minto area but smaller than the typical city lot. Built in 1930, its age is fairly typical for the local area. The property's assessed value is significantly below average at $21,900, reflecting its size and vintage.
The primary appeal of this property lies in its affordability and efficient footprint, presenting a low-barrier entry point into homeownership. It last sold in the $200k-$250k range, suggesting a price well below the citywide average. This home would suit first-time buyers, investors looking for a rental property, or downsizers seeking a minimal-maintenance lifestyle. A thoughtful perspective is that its larger-than-area-average lot could offer valuable outdoor space or future potential in a neighbourhood where that is less common, while its below-average taxes (tied to the low assessment) provide ongoing cost savings.
Frequently Asked Questions
1. Why is the assessed value so much lower than the likely selling price?
Municipal assessments for tax purposes often lag behind current market values, especially in active markets. The assessment reflects a historical valuation formula, while the sale price is determined by what buyers are willing to pay today.
2. What does the "below average" ranking for living area mean for daily life?
It confirms the home is compact. Buyers should be comfortable with a smaller, more efficient layout. This often means creative space solutions but also lower utility costs and less upkeep.
3. The home is nearly 100 years old. What should I be concerned about?
While the age is typical for Minto, a thorough inspection is essential. Key focus areas for a 1930s build would include the foundation, roof, plumbing, electrical systems (like knob-and-tube wiring), and insulation.
4. The lot size is "above average" for Minto but "below average" city-wide. Which is more relevant?
For daily living and neighbourhood character, the Minto comparison is more relevant. It means you likely have more usable outdoor space than many immediate neighbours, which is a relative advantage in this area.
5. How reliable are the past sold price ranges shown?
The ranges are based on public data, which in Manitoba does not disclose exact sale prices. For the precise historical sale price, you must request it directly from the listing service, as noted on the page.