Property Overview: 685 Moncton Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 685 Moncton Avenue in Munroe East is a classic, no-frills property that presents a clear value proposition. Built in 1947, it’s a smaller home at 700 sqft, sitting on a slightly larger-than-average lot for the immediate street (4,995 sqft). Its assessed value is notably below average for the neighbourhood and city, indicating a lower property tax burden and a potentially accessible entry point into the market.
The primary appeal lies in its fundamentals: a substantial lot for the area and a very low assessed value. This combination suggests an opportunity for a buyer comfortable with a home that may require updates, or for someone seeking to minimize ongoing holding costs. It would suit a pragmatic first-time buyer, an investor looking for a land-value play, or a downsizer prioritizing lot size and location over interior square footage. A thoughtful perspective is that its below-average metrics across the board aren’t just drawbacks—they represent a buffer from the premium prices of more updated homes, offering space to build equity through renovations without overcapitalizing for the area.
Section 2: Frequently Asked Questions
1. What does the "below average" ranking for Living Area actually mean?
It means this 700 sqft home is smaller than most comparable homes. In Munroe East, it ranks in the bottom 6% for size, which is a key factor in its lower assessed value.
2. Why is the Assessed Value so much lower than the city-wide average?
The city-wide average assessed value includes all property types and sizes. A more relevant comparison is the Munroe East neighbourhood average of about $29.4k; this home’s assessment of $22.9k is below that, likely due to its smaller size and older age.
3. The home sold between $150k-$200k in 2016. What is it worth now?
The provided sold price is historical data from 2016. Current market value would depend on present market conditions, the property’s state, and recent comparable sales. The exact sold price for that transaction can be requested via the website.
4. Is the larger lot size a significant advantage?
Potentially, yes. While the home is small, the lot is over 10% larger than the street average. This offers more outdoor space and could provide future flexibility, such as for an addition or garden, which is less common on smaller lots in the area.
5. The home was built in 1947. Should I be concerned about major issues?
As with any home of this age, a thorough inspection is essential. Its age is typical for the street but older than the neighbourhood average. The key will be understanding the condition and age of major systems like the roof, wiring, and plumbing.