Property Overview: 572 Centennial Street, Winnipeg

Key Characteristics & Appeal

This one-storey home on Centennial Street in the J.B. Mitchell neighbourhood presents a practical and value-oriented opportunity. Its key characteristic is a clear contrast: the living space is modest at 800 sq ft, which is below average for the area, but it sits on a notably larger-than-average lot for the street at 5,465 sq ft. The home, built in 1953, features a renovated basement and a detached garage. Its current assessed value of $400k is around the average mark for comparable properties.

The appeal lies in this balance. The renovated basement adds functional living space, while the generous lot offers valuable outdoor potential—a rarity that could suit gardening, expansion, or simply more private space. It’s a home that prioritizes land over square footage. This property would best suit first-time buyers or practical downsizers who value a manageable interior footprint with the added bonus of a sizeable yard, or an investor looking for a solid lot in a well-established area.

Frequently Asked Questions

1. Is the house particularly small compared to neighbours?
Yes. At 800 sq ft, the living area is below the average for both Centennial Street and the wider J.B. Mitchell neighbourhood. The home’s layout and the renovated basement will be key to understanding its overall functionality.

2. What does "around average" for the assessed value really mean?
With an assessed value of $400k, this property sits near the middle range compared to similar homes on its street, in the neighbourhood, and citywide. It suggests the valuation is in line with market norms for its type and area.

3. How does the lot size compare?
The land area is a standout feature. At over 5,400 sq ft, the lot is above average for Centennial Street itself, offering more outdoor space than many immediate neighbours.

4. What can past sale prices tell me?
The home sold previously in 2021 and 2016. The increase in sale price range between those dates indicates market appreciation, but for the most accurate historical price data, you need to request the exact figures directly from the listing source.

5. Who would this property not suit?
It may not be ideal for buyers seeking a large, modern interior without renovation work, or for those who prefer a low-maintenance, small yard. The value here is weighted more toward the land and the potential it holds.