824 Valour Road

Property Overview: 824 Valour Road, Winnipeg

Key Characteristics & Appeal

This home at 824 Valour Road is a compact, century-old property built in 1914, offering 802 square feet of living space on a 2,199 sqft lot in the Minto neighbourhood. Its most defining characteristic is its exceptionally low municipal assessed value of $15,800, which places it in the bottom 2-4% of homes on its street, in Minto, and across Winnipeg. This suggests it may be a candidate for significant renovation or redevelopment.

The appeal lies primarily in its potential and land value within a mature urban neighbourhood. It suits a specific type of buyer: investors, builders, or handy homeowners looking for a foundational project. It’s a property where the value is in the opportunity rather than the current structure. A thoughtful perspective is that its small lot size, while below area averages, may be more manageable and less costly to maintain or re-landscape, and its age places it among Winnipeg’s older housing stock, which can hold heritage or character appeal for the right restorer.

Frequently Asked Questions

1. Why is the assessed value so low compared to nearby homes?
A very low assessed value typically indicates that the municipality has assessed the current building as having minimal value, often due to age, condition, or functional obsolescence. The value is largely in the land itself.

2. What does the sold price history (CA$150k–200k in 2020) indicate?
The prior sale in a higher price range, despite the low assessed value, suggests the market price is driven by the property's potential (e.g., lot value, redevelopment opportunity) rather than its current state. It confirms buyers are paying a premium for the location and possibility.

3. Is this a teardown or a renovation project?
Given the age (112 years), below-average living area, and very low assessed value, the property is likely a prime candidate for a substantial renovation or complete redevelopment. A professional inspection is essential to determine the feasibility of renovation.

4. How does the lot size impact future plans?
At 2,199 sqft, the lot is smaller than most in the area. This will influence the size and scope of any new build or addition, as plans must adhere to local zoning bylaws regarding setbacks and floor-area ratios.

5. How reliable are the "top percentile" rankings provided?
These rankings are a useful, at-a-glance tool to see how this property compares to others in specific categories (size, value, etc.). They clearly show this home is an outlier in value and lot size, which is critical information for evaluating its unique position in the market.