Property Overview: 1840 Assiniboine Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This is a compact, one-storey home built in 1929, situated on a standard city lot in the Bruce Park neighbourhood. Its key characteristic is its modest 872 sqft living area, which is notably smaller than most homes on its street and in the wider area. The property features a detached garage and a basement that is present but not renovated.

The primary appeal lies in its location and land value within Bruce Park, a neighbourhood where its assessed value ranks above average. This presents a clear opportunity for a specific buyer: someone looking for an entry point into a established area, with the vision and means to either extensively renovate the existing small footprint or eventually redevelop the lot. It is not a move-in-ready home, but a property where the value is heavily weighted toward its location and potential. It would suit a practical investor, a builder, or a hands-on buyer planning a custom project who is less concerned with immediate livable space and more focused on securing a well-located parcel.

A less obvious perspective is that the very small living area for the street might allow for a more focused and efficient renovation or rebuild, potentially avoiding the complexities of a sprawling, dated layout. It’s a blank canvas in an otherwise mature setting.

Section 2: Frequently Asked Questions

1. What does "below average" for living area actually mean?
The home's 872 sqft of living space is significantly smaller than typical homes on Assiniboine Avenue (which average about 1,763 sqft) and in the Bruce Park neighbourhood. This confirms it is a notably compact property.

2. If the house is so small, why is the assessed value above average for Bruce Park?
The assessment reflects the combined value of the land and the structure. In this case, the value is likely supported more by the desirability of the neighbourhood and the development potential of the 6,116 sqft lot, rather than the current home's size or condition.

3. What is meant by the basement being "not renovated"?
This indicates the basement exists but is in original or unfinished condition. Buyers should budget for any necessary moisture-proofing, structural updates, and finishing to make it a functional living space.

4. How recent is the sale price data, and is it relevant?
The property sold for $37,300 in November 2022. This historical price is a useful data point for understanding market trends, but the current value would be influenced by subsequent market conditions and any changes to the property.

5. Who would this property not suit?
It would not suit buyers seeking a turn-key home, those needing ample space immediately, or anyone uncomfortable with the prospect of managing a major renovation or construction project. The investment here is in potential, not present-day convenience.