Here is a clean, standalone summary of the property at 450 Stella Avenue, written for direct display.

Property Overview

Key Characteristics & Appeal

This is a property defined by its land rather than its structure. The lot measures 7,354 square feet, placing it well above average for its street, neighbourhood (Dufferin), and across Winnipeg. In a city where the average lot is already generous, this one offers significantly more space than nearby homes, ranking in the top 14% citywide.

The house itself was built around 1922, making it one of the older homes on the street. Its assessed value of $36,000 is considerably below the local average of roughly $144,000, reflecting a property that may need significant updating or renovation. The living area is also below average for the area.

Where the appeal lies: The main draw is the large lot in a central location at a very low entry price. This is not a turnkey home for someone looking to move in immediately. Instead, it suits buyers who are comfortable looking past the current state of the house and see value in the land. It could work for an investor planning a substantial renovation, a builder considering a new project, or someone who wants a large yard and is willing to take on a fixer-upper. The below-average assessment also means lower property taxes relative to more expensive homes in the same neighbourhood.

Best suited for: Hands-on buyers, investors, or renovators who prioritize lot size, location, and long-term potential over immediate move-in condition. It is less suited for someone seeking a modern, updated home with average or above-average living space for the price.

Frequently Asked Questions

1. Why is the assessed value so low compared to other homes on the street?
The $36,000 assessment is based on the structure’s age and overall condition, not the land. Older homes in unrenovated or deteriorated condition are assessed much lower than similar-sized homes that have been updated. The land value is typically factored separately, but in this case, the low building value is pulling the total assessment down.

2. How big is the lot compared to what is typical for Dufferin?
The lot is 7,354 square feet, which is about 68% larger than the neighbourhood average of 4,365 square feet. It ranks in the top 14% for lot size across the entire city, not just locally.

3. Is the house livable as-is, or does it need major work?
The data does not provide a condition report, but the combination of a 1922 build year and an assessed value well below the street average strongly suggests the home requires significant repairs or updating. Buyers should budget for substantial renovation work and obtain a professional inspection before making an offer.

4. How does this home compare to others on Stella Avenue specifically?
It has one of the largest lots on the street (ranked #43 out of 187), but it is one of the oldest homes and has one of the lowest assessed values. This creates a clear trade-off: you are paying for the land, not the house. Most other homes on this street have higher assessed values and are newer or better maintained.

5. Is this a good investment for someone wanting to flip the house?
It depends on your costs and goals. The low entry price for a large lot in a central neighbourhood can work for a flip or rebuild, but you will need to factor in the full cost of bringing the house up to a sellable standard. The below-average living area (1,182 sqft) may also limit the resale value unless you plan to expand the footprint. It is a higher-risk, higher-reward scenario best suited for experienced renovators.