Property Overview
This one-storey home on a 2,470 sqft lot presents a straightforward opportunity in Winnipeg's Munroe West neighbourhood. Built in 1922, its key characteristic is its modest 590 sqft living area, which ranks it among the smaller homes in the area. The property includes a basement, noted as unrenovated, and does not have a garage or pool.
The appeal lies in its position as an entry-point property with a very low assessed value, particularly suited for a specific buyer. It would best suit a hands-on investor looking for a rental property with minimal upfront capital, or a highly budget-conscious first-time buyer willing to undertake gradual renovations. Its smaller size and lot offer manageable upkeep, while the unrenovated state allows for customization. A less obvious perspective is its potential as a "placeholder" property—allowing an owner to enter a stable neighbourhood with the option to build new or substantially expand on the existing lot in the future, given the right resources and approvals.
Frequently Asked Questions
1. Why is the assessed value so much lower than nearby homes?
The assessed value reflects the property's smaller size (590 sqft), age, and unrenovated condition compared to larger, updated, or newer homes in the vicinity, as seen in the listed comparisons.
2. What does "basement, not renovated" typically mean?
It indicates the basement exists but is in original or utilitarian condition, likely lacking modern finishes. Buyers should budget for potential updates and investigate its suitability for their needs.
3. Is the small living area a major drawback?
It depends on your goals. For a single occupant or as a rental, it can be efficient. For a growing family, it would be tight. The trade-off is the lower price point for entering the neighbourhood.
4. How does the lot size compare?
At 2,470 sqft, the lot is a good size for the area. This is a positive aspect, offering decent outdoor space and potential for additions, which contrasts with the compact living area of the home itself.
5. What is the neighbourhood like?
Munroe West is an established Winnipeg neighbourhood. The listing shows a mix of older homes like this one and newer constructions, indicating an area with a range of properties and ongoing investment.