Property Overview

This 1952 one-storey home in the Agassiz neighbourhood presents a straightforward opportunity on a large, 6,921 sqft lot. Its key appeal lies in the balance between its modest, renovated living space and the significant potential of its land. With only 728 sqft of living area, it is among the smallest homes in its immediate area, but the lot size is well above average for the street and neighbourhood. The property has a renovated basement, adding functional space. Recent sale history shows steady appreciation, with the last sale in February 2022 at $40,000.

This home would suit a specific buyer: a first-time purchaser comfortable with a compact footprint, an investor looking for a land-value play with rental income potential (likely from the basement suite), or a downsizer seeking minimal maintenance without leaving the community. Its value is grounded more in the land and location than in the size of the house itself, offering a lower entry point into the market for those willing to live efficiently or with future expansion in mind.

Frequently Asked Questions

1. Why is the living area so small compared to the lot size?
This is characteristic of many older, post-war homes. The large lot was typical for the era, while the modest house size reflects original building trends. This discrepancy is often seen as potential—either for future expansion, garden space, or simply enjoying more private outdoor area.

2. The assessed value seems low. Is that accurate?
The assessed value ($34,600) is for taxation purposes and is often lower than market value, especially in a rising market. The more relevant figure is the recent sale price of $40,000 in 2022, which indicates what a buyer was recently willing to pay.

3. What does the "renovated basement" likely mean?
Given the home's size and era, a renovated basement in this context typically means it has been finished into a livable space, possibly as a rec room or a separate suite. Viewing the property is essential to confirm its layout, legality, and condition.

4. Who would this property not be suitable for?
It would likely not suit a growing family needing multiple bedrooms or dedicated workspaces, or anyone who prefers a modern, open-concept layout without planning major renovations. The charm is in its simplicity and lot, not in spacious interiors.

5. How does the lack of a garage affect daily living?
This is a practical consideration for Winnipeg winters. Buyers should budget for alternative parking solutions, such as a driveway pad or carport, and factor in the seasonal task of clearing a larger driveway area.