Property Overview: 705 Henderson Highway, Winnipeg
Section 1: Key Characteristics & Appeal
This is a modest, well-established home built in 1945 on a standard-sized lot in the Munroe West neighbourhood. Its key characteristic is its accessibility: with an assessed value of $250,000, it is priced notably below the average for both its immediate street and the wider city. The living space of 770 sq ft is compact, ranking below average in size comparisons, which directly contributes to its lower valuation.
The primary appeal lies in its position as an attainable entry point into the Winnipeg housing market. It represents a lower financial barrier to homeownership, particularly for a main artery like Henderson Highway. The lot size of over 5,000 sq ft is quite generous for the area and offers potential for outdoor space or future expansion, subject to zoning. This property would best suit first-time buyers, downsizers, or practical investors looking for a straightforward, lower-maintenance asset. Its value proposition is grounded in fundamentals rather than luxury, offering a chance to build equity in a mature neighbourhood without a premium price tag. A thoughtful perspective is that its below-average metrics in size and value could be seen as insulation from sharper market corrections, positioning it as a stable, if unglamorous, holding.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the street average?
The assessed value is heavily influenced by the home's smaller living area (770 sq ft) compared to others on Henderson Highway, where the average is nearly 1,300 sq ft. The age and likely modest finishes of the 1945 build also factor into this valuation.
2. What does the sold price history indicate?
The home sold between $200,000-$250,000 in early 2016. This past price, combined with the current $250k assessment, suggests a market value that has remained relatively stable in that range for nearly a decade.
3. Is the lot size a positive feature?
Yes. At 5,037 sq ft, the lot is larger than the average for the Munroe West area. This provides more outdoor space than many neighbouring properties and could be a long-term asset for gardening, recreation, or potential redevelopment, subject to municipal regulations.
4. What should I consider about a home from 1945?
While the structure is from the post-war era, its systems (like plumbing, electrical, and insulation) have likely been updated over time. A thorough inspection is crucial to understand the condition of these updates, the foundation, and the roof, and to budget for any necessary maintenance typical of a home of this age.
5. How can I get the exact historical sold prices?
The website does not display exact figures due to data source restrictions. You must request this information directly from them via email, and they will provide a manual lookup, typically by the end of the same business day.