Property Overview: 588 Atlantic Avenue, Winnipeg

Key Characteristics & Appeal

This one-and-a-half storey home, built in 1912, presents a practical and affordable entry point into Winnipeg’s Inkster-Faraday neighbourhood. With 1,047 square feet of living space and a renovated basement, it offers functional space that is squarely average for its immediate area, providing a comfortable footprint without premium pricing. Its primary appeal lies in its value proposition: the assessed value is notably low, placing it within the bottom 10% citywide, which suggests very manageable property taxes and an accessible purchase price. The lot, while smaller than average at 2,554 sqft, translates to less maintenance.

This home would suit first-time buyers, investors, or downsizers seeking minimal financial overhead. Its recent sale price range (approximately $16.5k - $19.5k in early 2024) indicates a market for those prioritizing capital preservation over appreciation or for whom a low-cost primary residence is the main goal. A thoughtful perspective is that its century-old character and below-average land size might appeal to someone looking for a "just enough" property—a straightforward home without the burden or cost of excess space or a large yard to maintain.

Frequently Asked Questions

1. What does the assessed value tell me about this property?
The assessed value of $19,900 is significantly below the Winnipeg city average. This typically results in low annual property taxes, which is a major ongoing cost advantage for the owner.

2. How does the living space compare to the area?
At 1,047 sqft, the living area is very close to the average for both Atlantic Avenue and the wider Inkster-Faraday neighbourhood, meaning it provides standard-sized accommodation for the community.

3. The home was built in 1912. What should I consider?
While the basement is noted as renovated, a home of this age will likely have older core systems (like plumbing and electrical) and require a diligent inspection. Its vintage also means potential for classic architectural details.

4. The lot seems small. Is that a disadvantage?
The 2,554 sqft lot is below average for the street, neighbourhood, and city. This means less outdoor maintenance and limited potential for expansions like a large addition or garage, but it also means lower landscaping costs and responsibilities.

5. Who are the most likely buyers for a home like this?
Given the price point and characteristics, likely buyers include budget-conscious first-time homeowners, practical downsizers, and investors looking for a low-cost rental property with stable, modest returns.