Property Overview: 316 Evelyne Reese Boulevard, Fraipont

Section 1: Key Characteristics & Appeal

This property presents a distinct value proposition within the Winnipeg market. Its most defining characteristic is its significantly below-average assessed value of $100k, which ranks in the bottom tier compared to both the immediate street and the wider city. The land size is modest at 1,978 sqft, also below local averages. Recent sale data suggests a transaction in late 2024 in the $37.5k–$40.5k range.

The appeal lies squarely in its potential as an entry point or strategic investment. It suits buyers with a clear vision for improvement or those seeking minimal property tax exposure. It would be a practical fit for a hands-on investor looking for a rental property with low capital outlay, a buyer intending to build new on an existing lot, or someone seeking the most affordable possible entry into homeownership with plans to renovate over time. A less obvious perspective is its potential utility for someone requiring a simple, low-value asset for specific financial or life planning purposes, rather than as a primary residence.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much higher than the recent sold price?
Municipal assessed value for tax purposes and market sale price are determined by different methods and timelines. The recent sale price is likely a more accurate reflection of the property's current market value.

2. What type of condition or factors might explain the low sale price?
While specific details aren't provided here, a sale price this far below assessed and area averages typically indicates one or more significant factors, such as the property being in need of major repairs, being a teardown candidate, or having unique legal or structural considerations.

3. Is this a good opportunity for a first-time buyer?
It could be, but with important caveats. The low entry cost is a major advantage, but buyers must be prepared for likely renovation costs, have financing options suitable for a low-value property, and conduct thorough due diligence (including a professional inspection) to understand the full scope of what they are purchasing.

4. How reliable are the "comparable home" averages shown?
The averages provide a useful benchmark for the neighborhood and street. However, the listed "worth viewing" comparables with similar build years but vastly different values highlight that specifics like lot size, condition, and exact location cause wide variations. Direct, like-for-like comparison is essential.

5. How can I get the exact historical sold price?
As noted in the data, exact sale prices are provided manually by the site upon request. You can submit your email to receive the precise figure, as the public records often show only a range.