Property Summary: 8-500 St Anne’s Road, Winnipeg
Key Characteristics & Buyer Profile
This is a 978 sqft home built in 1976, sitting on a 1,417 sqft lot. Its most notable feature is the assessed value: $194,000, which is the lowest on its street and far below both the neighbourhood and citywide averages. The living area is slightly below city average but close to the neighbourhood norm, while the year built (1976) is newer than typical for both the street and area—many nearby homes date from the 1960s. The land area is very small, especially when compared to the large lots (averaging over 72,000 sqft) on St Anne's Road, though it aligns more closely with typical city lots.
The appeal here is straightforward: entry-level pricing in a well-established neighbourhood. This is not a home for someone seeking space or a large yard. It would suit a first-time buyer, an investor looking for a lower-cost rental property in a central location, or someone downsizing to a smaller, more manageable footprint where low purchase price and property taxes are priorities. The low assessed value relative to the area suggests potential value-add opportunity or maybe a home that needs cosmetic updating. That it's a condo or apartment unit (implied by the "8-500" address format) should be noted, as the data likely compares it to single-family homes on the same street—meaning the small land area and low value are partly explained by this distinction, not necessarily a red flag.
Frequently Asked Questions
1. Why is the assessed value so much lower than the street and neighbourhood averages?
The property is part of a multi-unit development (likely a condo or apartment complex), while the street and neighbourhood averages include many single-family homes with larger lots and higher valuations. This is typical for such units. The lower value does not necessarily mean the property is in poor condition—it reflects the property type.
2. How does the living space of 978 sqft compare to other similar units nearby?
It’s on the smaller side compared to the street average of 1,365 sqft, but those figures include houses. Against citywide figures for comparable homes, it’s below average. However, for a condo or apartment, 978 sqft is a solid one- or two-bedroom size—functional for a couple or small family.
3. The land area of 1,417 sqft seems tiny. What does this actually include?
This likely covers the property's share of the total land under the building, not a private yard. In a condo development, individual owners don't own the land outright. Buyers should expect minimal or shared outdoor space.
4. Is the home from 1976 likely to need major updates?
A home built in 1976 is at the age where major systems (roof, windows, HVAC, plumbing, electrical) may need attention if they haven’t been updated. Some potential buyers see this as an opportunity to renovate and build equity, while others should budget for immediate inspections and possible upgrades.
5. Who would this property not be a good fit for?
It would not suit buyers needing a large lot, a detached house, or a move-in-ready premium finish. Families looking for more than two bedrooms or a dedicated outdoor space may also find it too small. The low land area and shared structure mean limited expansion or renovation potential compared to a single-family home.