Property Overview
This home at 688 Valour Road is a compact, character property built in 1930. Its key appeal lies in its position as an affordable entry point into the Winnipeg market, particularly within the Minto neighbourhood. At 640 square feet of living space on a 2,200 square foot lot, it is notably smaller than most comparable homes on its street, in the area, and across the city. This is reflected in its assessed value of $22,500, which is below the city-wide average but closer to the norm for its immediate vicinity.
The property suits practical, budget-conscious buyers. It’s ideal for a first-time homebuyer seeking minimal upkeep, an investor looking for a straightforward rental property, or someone wanting to downsize into a manageable, low-cost holding. Its older vintage means it carries historic charm but also implies a need for diligence regarding maintenance and updates. A thoughtful perspective is that its smaller scale and lower taxes could offer financial flexibility, while its average lot size for the street provides a decent outdoor space relative to the home's footprint.
Frequently Asked Questions
1. Is this a small house?
Yes. At 640 sq ft, its living area is significantly smaller than most homes in Winnipeg, ranking in the bottom 7% city-wide. It is a compact, efficient layout.
2. Why is the assessed value so much lower than the city average?
The assessed value of $22,500 is based on municipal valuation, which heavily factors in the home's size, age, and characteristics. Its compact size and older age place it below the broader city average for assessed value, though it is more aligned with averages on its own street.
3. What can the sold price history tell me?
The home sold in 2019 and again in 2023, both times within the $200k-$250k range. This indicates its market price is far higher than its assessed value for tax purposes, which is common. The exact sold prices are available upon request.
4. What are the implications of the home being built in 1930?
As a 96-year-old home, it offers classic character but warrants a thorough inspection. Potential buyers should budget for possible updates to systems like wiring or plumbing and consider energy efficiency compared to newer builds.
5. How does the lot size compare?
The 2,200 sq ft lot is below average for the city but is not the smallest on Valour Road. It provides a modest outdoor space typical for the central street, offering a balance between yard maintenance and usable area.