Property Overview

This one-and-a-half storey home on Anderson Avenue in Inkster-Faraday presents a classic Winnipeg character home with notable financial efficiency. Built in 1926, its key appeal lies in a desirable combination: a renovated basement, a detached garage, and a land size that is well above average for the immediate area. The 5,453 sqft lot offers significant space for gardening, recreation, or future expansion relative to neighbouring properties.

The home’s assessed value of $29,800 is notably low, placing it in the top 3% of the Inkster-Faraday neighbourhood. This creates a very low annual property tax burden, which is a major financial advantage. However, the living space is a comfortable 1,189 sqft, ranking solidly average for the street and above average for the area, suggesting a practical layout rather than an expansive one.

This property would suit a first-time buyer or an investor seeking a character home with a manageable footprint and exceptionally low carrying costs. It’s also a strong fit for a buyer who values a larger, private yard in a mature neighbourhood without the premium price tag typically associated with such lots. The recent basement renovation adds modern livability to the historic structure.

Frequently Asked Questions

1. Why is the assessed value so much lower than typical city homes?
Assessment is based on a provincial formula that considers many factors, including specific neighbourhood sales. This home’s assessment reflects the market values in Inkster-Faraday and results in significantly lower annual property taxes compared to a similarly sized home in many other parts of Winnipeg.

2. What does the sold price history indicate?
Public records show it last sold in December 2021 for an estimated range of $275,000 to $305,000. This recent sale provides a concrete market benchmark, suggesting the current assessed value has not kept full pace with the recent sale price, which is a common occurrence.

3. Is the larger lot a benefit or a burden?
It’s primarily a benefit, offering more privacy and space than most nearby properties. However, a lot of this size requires maintenance (lawn care, snow clearing). For some, it’s a premium feature; for others, it’s additional upkeep to consider.

4. What are the implications of the home’s age?
Built in 1926, the home has enduring character but may have older building materials and systems. The renovated basement is a positive update, but prospective buyers should pay special attention to the condition of the main structure, roof, wiring, and plumbing during an inspection.

5. How does this home compare to others on the same street?
It holds its own with an average living area for Anderson Avenue but stands out with a larger-than-average lot and a higher assessed value (top 8% on the street). This suggests it is perceived as one of the more substantial properties on the block.