Property Overview & Key Characteristics

This one-and-a-half storey home on Polson Avenue is a classic Winnipeg character property, built in 1914. With 1,004 square feet of living space and a full, unrenovated basement, it sits on a standard city lot of 3,624 sqft. The home has no garage or pool. Its assessed value is notably modest, and recent sale prices have been consistently low relative to the wider city market, though in line with its immediate Inkster-Faraday neighbourhood.

The primary appeal lies in its affordability and location within a well-established community. It represents a straightforward entry point into homeownership or a potential hold for an investor. The unrenovated basement presents a blank canvas for future finishing. This property would best suit a pragmatic first-time buyer comfortable with a home of vintage character, or an investor looking for a low-cost rental property in a stable area. A thoughtful perspective is that its very modest assessment could offer some insulation from property tax increases compared to rapidly appreciating areas, providing predictable holding costs.

Frequently Asked Questions

1. Why is the assessed value so much lower than the city-wide average?
Assessments are based on local market values. This home’s valuation is typical for the Inkster-Faraday neighbourhood, reflecting the area's established housing stock and market conditions rather than the city's broader averages, which include newer suburbs and higher-value districts.

2. What does "one-and-a-half storey" mean for this 1914 home?
Typically, this style features a full main floor and a second floor with sloping ceilings where the roofline begins, often creating cozy bedrooms with character. Given the era, original plaster walls and classic woodwork are possible features.

3. The basement is noted as "not renovated." What should I expect?
This indicates the basement is in a functional, utilitarian state—likely with concrete floors, exposed joists, and basic finishes. It offers potential for future development but will require a significant investment to finish as living space.

4. How does the lack of a garage affect practicality?
On-street parking is the likely scenario. Buyers should consider Winnipeg winters and assess street parking availability, as well as potential costs for adding a driveway or garage in the future.

5. The home sold recently in 2020 and 2022. What does that indicate?
The relatively quick turnover at stable, low price points suggests the property may be functioning as an affordable rental or a starter home. It underscores the neighbourhood's role as a consistent, entry-level market without the volatile price swings seen in other segments.