341 Rougeau Avenue

Property Overview: 341 Rougeau Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This home at 341 Rougeau Avenue is a practical, no-frills property that represents an accessible entry point into Winnipeg’s Mission Gardens neighborhood. Built in 1976, its 880 sqft living area is modest, consistently ranking below the average for its street, local area, and the wider city. The lot size of 2,984 sqft follows a similar pattern, offering a manageable yard. Its assessed value is notably low, placing it in the top 94% for value within Mission Gardens (meaning it's among the least expensive 6% of homes in the area), which is its most defining financial characteristic.

The primary appeal lies in its affordability and efficiency. It suits first-time buyers, investors, or downsizers seeking minimal property taxes and a lower purchase price, allowing them to enter a stable neighborhood without a large financial burden. A thoughtful perspective is that a home of this size and value can offer freedom from excessive maintenance and financial strain, positioning it as a pragmatic base rather than a forever home. Its recent sale in the $250k-$300k range (2024) confirms its position as a value-oriented option in the market.

Section 2: Frequently Asked Questions

1. Is this a "fixer-upper" or a move-in ready home?
The data does not specify condition, but the very low assessed value and modest size suggest it may be a candidate for updates. The recent sale indicates it is habitable, but buyers should budget for inspections and potential renovations common for a 50-year-old home.

2. Why is the assessed value so much lower than the recent sale price?
Municipal assessed value (here, $26,600) is for tax purposes and often lags behind market value. The 2024 sale price of $250k-$300k reflects the actual current market value, which is influenced by factors like demand, interest rates, and the home's condition.

3. How does the smaller lot size impact the property?
At just under 3,000 sqft, the lot is smaller than most in the area. This means less outdoor maintenance, which can be a plus for some, but also less private space and limited potential for expansions like a large addition or garage, compared to neighbors.

4. Who would this property not suit?
It would likely not suit growing families needing more than two bedrooms, those wanting ample space for entertaining, or buyers looking for a property with significant equity-building potential through lot value or size.

5. The data shows it's "below average" in many categories. Is that a bad sign?
Not necessarily. It accurately sets expectations: this is a smaller, more affordable home on a smaller lot. For the right buyer, these "below average" metrics are the source of its affordability and lower ongoing costs, making it a sensible, grounded choice.