116 Mill Rock Road

Property Overview

116 Mill Rock Road presents a unique profile in Winnipeg's Rosser-Old Kildonan neighbourhood. Its key characteristic is a significant disparity between its municipal assessed value and the average values of surrounding homes. With an assessed value of $121,000, it sits well below the area average of approximately $544,700 and the city-wide average for comparable homes of about $390,100. The lot is a standard urban size at 2,926 sq ft, which is notably smaller than the large lot sizes typical in this specific area.

The appeal lies primarily in its potential as an entry point into a established neighbourhood at a lower price point, based on its tax assessment. It may suit value-conscious buyers, investors looking for a property with a low assessed value, or those interested in a home that could present a renovation or redevelopment opportunity relative to its neighbours. A less obvious perspective is that this low assessment, while attractive for property taxes, might indicate a home that is older, smaller, or in need of more updating than others on the street, requiring a buyer to prioritize lot location over the current state of the dwelling.

Frequently Asked Questions

1. Why is the assessed value so much lower than neighbouring homes?
This typically indicates the home is more modest in size, age, or condition compared to others on the street. It’s essential to view the property in person or request a full history to understand the specific reasons.

2. Is the low assessed value good for property taxes?
Generally, yes. A lower assessed value usually results in lower municipal property taxes, which is a recurring cost saving.

3. How can I find out the exact sale history and specifications?
The listing notes that exact sold price data isn't displayed online due to industry rules. You must request this information directly via email from the site, and they will provide it manually.

4. What does the "Top 100%" ranking for value in the area mean?
A rank of 560 out of 559 means this property has the lowest assessed value in its immediate comparison group within Rosser-Old Kildonan, placing it at the very bottom of that list.

5. The lot seems small for the area. Is that a concern?
The land area is under 3,000 sq ft, which is significantly smaller than the area average of nearly 30,000 sq ft. This suggests the property is on a standard city lot, while many in the broader area are on much larger, possibly rural or semi-rural lots. It’s not a concern for typical urban living but indicates a different property type than many nearby.