Property Overview & Key Characteristics
This 1925-built, one-storey home in Sargent Park is a straightforward property that presents a clear value proposition. Its key appeal lies in its very low municipal assessed value, which is among the lowest 7% in Winnipeg, suggesting a potentially accessible entry point into the market. The lot is a notable feature, ranking in the top 14% for size on its street, offering more outdoor space than many neighbouring properties. However, the living area is quite compact at 595 sq ft, and the basement exists but is unrenovated.
This home would primarily suit a specific type of buyer: a first-time purchaser, an investor, or a hands-on individual looking for a minimal property tax base. Its condition and size mean it’s likely a candidate for a full renovation or a hold for land value. A less obvious perspective is its potential for someone seeking to minimize their footprint or as a strategic purchase in an area where the value is currently in the land itself, waiting for future neighbourhood shifts.
Frequently Asked Questions
1. What does the assessed value really indicate?
The assessed value of $16,600 is for municipal tax purposes and is exceptionally low, placing it in the bottom 7% of Winnipeg. This typically reflects the home’s age, condition, and small living area, not necessarily its market sale price, which could be higher.
2. Is the large lot a big advantage?
Potentially. At 1,904 sq ft, the lot is larger than most on the street. This provides more private outdoor space and could offer future flexibility, such as adding an extension (subject to zoning) or simply having a larger yard.
3. Who would this property not be suitable for?
It would not suit buyers looking for a move-in ready home, those needing multiple bedrooms, or anyone unwilling to take on a significant renovation project. The small main floor area and unrenovated basement require vision and investment.
4. The listing mentions an unrenovated basement. What should I consider?
This means the basement is in its original or rough state. You should budget for potential moisture issues, updating foundational elements like wiring and insulation, and finishing it to a livable standard. It represents both a challenge and a blank canvas.
5. How do the nearby "similar assessed value" properties compare?
The listed similar-value properties are primarily condo units (noted by suite numbers like "3-407"), while 930 Minto Street is a detached house. This highlights that you are acquiring a standalone home and land at a price point comparable to a condo unit's assessment, which is a key part of its unique value proposition.