Property Overview: 704 Ashburn Street, Winnipeg
Key Characteristics & Buyer Appeal
This home at 704 Ashburn Street in the Minto neighbourhood is a compact, character property built in 1928. With 744 square feet of living space on a 2,564 sqft lot, it is notably smaller than both area and city-wide averages, positioning it as a more manageable and potentially affordable entry point. Its assessed value is modest relative to the broader Winnipeg market, yet it aligns more closely with averages within its immediate area and street, suggesting it is priced appropriately for its location.
The primary appeal lies in its efficiency and location. It represents a practical opportunity for first-time buyers or downsizers seeking a lower-maintenance home without leaving established neighbourhoods. Its size and value metrics indicate it's likely one of the more accessible properties on Ashburn Street, offering a foot in the door of a community where many homes are larger and potentially higher-priced. A thoughtful perspective for a home of this vintage is the potential for incremental, live-in renovations, allowing an owner to add value over time while enjoying the established streetscape. It would suit a pragmatic buyer who prioritizes location and lot ownership over square footage, and who is comfortable with a home that may require updates reflective of its age.
Frequently Asked Questions
1. How does the home's size impact its value and utility?
At 744 sqft, the living area is below average for the street, neighbourhood, and city. This typically translates to a lower price point and reduced utility costs, but requires efficient use of space. It's ideal for 1-2 people but may feel constrained for a growing family.
2. What does the assessed value tell me about the property taxes?
The assessed value is approximately $23,600. Property taxes are calculated using this figure and the City's mill rate. This relatively low assessment suggests annual property taxes will be below the city average, which is a key ongoing cost savings.
3. The home was built in 1928. What should I consider?
A 98-year-old home will have character but likely requires careful attention to aging components. A thorough inspection is essential to evaluate the foundation, plumbing, electrical systems, and insulation. Original features may be present but could need restoration.
4. How does the last sold price (2021, $250k-$300k) relate to today's market value?
The 2021 sale price provides a historical benchmark, but current market value is determined by recent comparable sales, condition updates, and market trends since then. The assessed value is for taxation and is often lower than market value.
5. Who are the most likely neighbours or what is the street like?
The listing shows several directly adjacent houses on Ashburn Street, indicating a closely-built, traditional city block. The similar assessed values of nearby properties suggest a consistent, modest economic character for this specific section of the street.