Property Overview: 124 St Vital Road, Winnipeg
Section 1: Key Characteristics & Appeal
This home is a compact, 726 sqft bungalow built in 1946, situated on a modest 4,000 sqft lot in the Pulberry neighborhood. The data clearly positions it as a more affordable entry point into the Winnipeg market. Its assessed value of $273k is notably below averages for the street, neighborhood, and city, suggesting a lower property tax burden and an accessible purchase price.
The primary appeal lies in its value proposition and simplicity. It suits first-time buyers, downsizers, or practical investors seeking a straightforward, lower-maintenance property without a large renovation project. The home’s smaller scale means reduced utility costs and less space to manage. A thoughtful perspective is that its below-average metrics across size and value could represent a stable, lower-risk holding in an area surrounded by higher-valued homes, potentially insulating it from sharper market downturns. It’s a functional property for those whose priority is financial accessibility and location over square footage.
Section 2: Frequently Asked Questions
1. Is this a "fixer-upper" or a move-in ready home?
The listing does not specify condition, but the 1946 build date and below-average assessed value suggest it may require some updates. A pre-purchase inspection is essential to determine the state of major systems like plumbing, electrical, and the roof.
2. Why is the assessed value so much lower than neighboring homes?
The lower assessment is closely tied to the home’s significantly smaller living area and lot size compared to area averages. This doesn’t necessarily indicate a problem, but rather reflects its modest scale, which results in a lower valuation for tax and market purposes.
3. What are the potential downsides of such a small lot?
The 4,000 sqft lot offers limited private outdoor space and may restrict options for future expansions like additions or large decks. Parking or storage could also be more limited compared to properties on larger lots.
4. How reliable is the last sold price shown (2016, between $150k-$200k)?
The provided sold price is from public records and gives a historical benchmark. For fully verified, exact sale figures and a complete transaction history, you must request a manual lookup from the site via email, as they do not display MLS data.
5. Given its size, is this property a good long-term investment?
Its long-term appeal will depend heavily on land value appreciation in Pulberry and broader market trends. While its affordability is a strength, the very small size may limit its appreciation potential compared to larger homes, making it more of a practical living choice than a high-growth asset.