Property Overview: 716 Government Avenue, Winnipeg
Key Characteristics & Appeal
This 865 sqft bungalow, built in 1958, sits on a 4,496 sqft lot in the Munroe East neighbourhood. Its core appeal lies in its balance of a modest, manageable home with a proportionally generous lot, offering clear value and potential. The home's assessed value ranks notably high for its immediate street, suggesting it is viewed favourably compared to its closest neighbours. While the living space is compact relative to area averages, this translates to lower utility costs and less upkeep—a practical advantage. The property last sold in the $350k-$400k range in 2022.
This home would suit first-time buyers seeking an entry point into the market with room to grow outdoors, or practical downsizers looking for a single-level layout without a sprawling yard to maintain. It also appeals to value-oriented investors or renovators who see potential in the solid lot size and the opportunity to update a home from the late 1950s. Its straightforward scale offers a simpler, more affordable living proposition compared to larger, newer builds.
Frequently Asked Questions
1. Is the assessed value a reliable indicator of the property's market value?
Not directly. The assessed value of $30,700 is for municipal tax purposes. The 2022 sale in the $350k-$400k range is a far better indicator of its actual market value, reflecting what a buyer recently paid.
2. How does the home's size compare to others?
At 865 sqft, the living area is below average for the street, neighbourhood, and city. This indicates a compact, efficient layout, which can mean lower heating costs and less maintenance.
3. What does the lot size offer?
The 4,496 sqft lot is slightly below average for the street but offers ample outdoor space for a home of this size. It presents a good ratio of yard to house, perfect for gardening, recreation, or future expansion like a shed or deck.
4. What can the 2022 sale price tell me?
The previous sale price provides a crucial benchmark for the home's market value just a few years ago. It shows strong buyer interest at that price point and serves as a key reference for any current listing price.
5. Are the older mechanical systems or structure a concern?
Built in 1958, the home is of average age for the area. While the roof, wiring, plumbing, and foundation should be carefully inspected, its vintage is typical for the neighbourhood and many systems may have been updated over time.