Property Overview: 713 Fleming Avenue, Winnipeg
Key Characteristics & Appeal
This home at 713 Fleming Avenue in Munroe East is a modest, 847 sqft bungalow built in 1958, situated on a 4,497 sqft lot. Its key appeal lies in its position as an accessible entry point into the Winnipeg market. The home’s assessed value is notably low compared to both the immediate street and the wider city, which translates to correspondingly lower property taxes—a significant and ongoing cost savings for an owner. While the living space is compact, it represents a practical footprint for efficient living or a manageable renovation project.
The property would best suit a first-time buyer or an investor seeking a low-cost holding with renovation potential. Its value is fundamentally in the land and location rather than the current structure. A thoughtful perspective is that this home, while ranking below average in size and value on its street, is part of a neighbourhood of similar-era homes, offering a stable, unpretentious community. It’s a property for those who see utility and potential where others might only see the numbers.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value is based on the property's specific attributes—including its smaller size, age, and current condition—relative to similar properties. It reflects a valuation for taxation purposes, not necessarily the market sale price.
2. What does the "sold price" range (CA$200k–250k in 2016) tell me about today's value?
It provides a historical benchmark, but market conditions have likely changed since 2016. For a current market valuation, consulting a local real estate professional or reviewing very recent sales of similar homes in Munroe East is essential.
3. The home is smaller than average. Is the lot size a compensating factor?
The lot is slightly below average for the street but is reasonably proportional to the home's size. It provides adequate outdoor space without the high maintenance of a much larger yard, which can be a practical advantage.
4. How significant are the property tax savings from a lower assessment?
Very significant. A lower assessed value directly results in a lower municipal tax bill each year. This ongoing savings improves long-term affordability and should be factored into the total cost of ownership.
5. The "neighbourhood analysis" shows nearby homes. What's the main takeaway?
The analysis shows the immediate context: you are looking at one of the more modest homes on a street of modest homes. There is consistency in the age and style of housing, indicating a mature, established area without extreme disparities between properties.