Property Overview
This home at 242 Hazel Dell Avenue in Winnipeg's Rossmere-B neighborhood presents a specific value proposition. Built in 1929, it is a smaller, character home with 796 sqft of living space on a 4,252 sqft lot. Its key characteristic is its significantly below-average assessed value of $215k, which ranks in the bottom 1-3% of its immediate street, neighborhood, and city. This stands in contrast to nearby comparable sales, where similar-sized homes have recently sold for higher prices and carry higher assessments.
The appeal lies squarely in affordability and potential. It is one of the most accessible price points in the area, suitable for a first-time buyer, an investor, or someone seeking a minimal mortgage footprint. The lot size, while below the street average, is near the city average and may offer room for expansion or gardening. A thoughtful perspective is that its older vintage (1929) could appeal to a buyer interested in a home with pre-war character, willing to undertake updates. This property suits a practical buyer who prioritizes getting into the market over move-in-ready perfection, viewing any necessary updates as a way to build equity.
Frequently Asked Questions
1. Why is the assessed value so much lower than neighboring homes?
The assessed value is based on municipal evaluation, which considers factors like lot size, living area, age, and condition. Given its smaller size and older build date compared to neighbors, a lower assessment is typical. It may also reflect the home's current condition or layout.
2. How does the last sale price compare to the current assessment?
Public data indicates the home sold between $150k-$200k in mid-2019. The current $215k assessment suggests a moderate increase in municipal valuation since that sale, but it remains well below the average for the area.
3. What are the implications of the home's older age (1929)?
An older home like this often comes with character but may also require more attention to foundational elements, wiring, plumbing, and insulation. A thorough inspection is essential. On a positive note, it may be situated on a mature lot in an established community.
4. The home is smaller than average. Is expansion possible?
The lot size, while not the largest on the street, is near the Winnipeg average. This could allow for a future addition or renovation, subject to local zoning bylaws and building codes. Checking the possibility of a variance or permitted builds would be a key due diligence step.
5. Who would this property not suit?
It likely wouldn't suit buyers looking for a modern, turn-key home or those needing significant space. The data suggests it's a compact property best for individuals, couples, or investors comfortable with a project or a cozy footprint.