Property Overview: 690 Ashburn Street, Winnipeg
Key Characteristics & Appeal
This home presents a distinct profile defined by its generous lot and modest footprint. Built in 1910, its 720 sqft living area is notably compact, ranking well below average for the street, neighborhood, and city. This creates a specific dynamic: the home itself is cozy and efficient, while the 3,848 sqft lot is substantially larger than most on Ashburn Street and in the Minto area. The assessed value sits around the local average, suggesting the property is priced in line with its immediate surroundings.
The primary appeal lies in this land-to-building ratio. It’s a property where the outdoor space is a dominant feature, offering significant potential for gardening, expansion, or future development, subject to zoning. The compact home may suit a minimalist, a first-time buyer comfortable with a smaller interior footprint, or an investor looking for a land-value opportunity in a central location. It’s less suited for those requiring ample indoor living space without immediate plans to renovate or rebuild.
A thoughtful perspective is that this property represents a clear choice between present and future utility. You are acquiring a larger-than-average parcel of land with a modest, historic home on it. The value proposition is heavily weighted toward the lot's potential rather than the current home's size or modern amenities.
Frequently Asked Questions
1. Is the assessed value the same as the market value?
No. The assessed value of approximately $22,700 is for municipal tax purposes. Market value is determined by what a buyer is willing to pay, which can be influenced by recent sales, condition, and the lot's development potential. The last recorded sale was between $250k-$300k in 2021.
2. What does the "Top X%" ranking mean for the lot size?
A ranking in the "Top 22%" for land area on Ashburn Street means this property's lot is larger than 78% of comparable lots on the street. It highlights that the lot is a standout feature locally, even if it is below the city-wide average.
3. Given the home's age (1910), what should I be concerned about?
Prospective buyers should budget for and investigate the condition of major aging systems, such as the roof, foundation, plumbing, and electrical wiring. A thorough pre-purchase inspection is essential to understand potential maintenance or renovation costs.
4. Can the small house be expanded or replaced?
Potentially, yes, due to the large lot. However, any expansion or rebuild would require checking with the City of Winnipeg for zoning bylaws, heritage designations (if any), and necessary permits. The lot size provides the opportunity, but local regulations will dictate the feasibility.
5. Why is the living area ranked so low compared to the area averages?
The rankings show this home's interior space (720 sqft) is significantly smaller than typical homes in Minto (~1,060 sqft avg.) and Winnipeg overall (~1,342 sqft avg.). This confirms the property is characterized by a small historic home on a relatively large lot, which is its defining trait.