Property Summary: 804 Mountain Avenue

Key Characteristics & Appeal

This is a modest, century-old one-and-a-half storey home on a standard city lot in Burrows Central. Its key characteristic is its value proposition: with a very low assessed value and historically low sale price, it represents one of the most accessible entry points into Winnipeg’s housing market. The appeal lies almost entirely in its land and potential, rather than the existing 560 sqft living area, which is notably compact. The home has an unrenovated basement and no garage.

It would suit a specific type of buyer: primarily investors, builders, or extremely hands-on owner-occupants. For an investor, it’s a low-cost holding property with redevelopment potential. For a builder or renovator, the lot provides a canvas, whether for a substantial renovation or a new build. A first-time buyer with a tight budget and a willingness to live minimally while planning a major future project might also see opportunity here. A less obvious perspective is its appeal to someone seeking to minimize property tax liability while owning a city asset, as the tax burden would be relatively light compared to most properties.

Frequently Asked Questions

1. Why is the living space so much smaller than average?
At 560 sqft, the home is significantly below average for the area. This is typical of very modest, original worker’s cottages from the 1920s and indicates the home has not been expanded, highlighting its potential for an addition or complete redevelopment.

2. What does the "below average" assessed value mean for me?
A low assessed value generally correlates with lower municipal property taxes. However, it also reflects the market’s current valuation of the property as-is, which is based on its age, size, and condition. It signals that the value is primarily in the land.

3. Is the lot size a positive feature?
The lot is around 3,600 sqft, which is fairly standard for the neighbourhood but smaller than the citywide average. In this context, it’s adequate for a single-family home but not unusually large. Its value is in its location and zoning, not its sheer size.

4. Who would be interested in a property like this?
Interest would likely come from three groups: investors looking for a low-entry rental or redevelopment property, builders/developers seeing the lot’s potential, and budget-conscious DIY owners prepared for a major renovation or rebuild project.

5. How significant is the 1923 build date?
A 103-year-old home means all major systems (plumbing, electrical, structure) are beyond their typical lifespan unless already updated. Any purchase should be contingent on a thorough inspection, with the understanding that significant foundational or structural work may be needed, which is a key factor in its pricing.