Property Overview: 259 Templeton Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This home on Templeton Avenue in Margaret Park is defined by its historic character and value-oriented position in the market. Built in 1917, it is one of the older homes in its immediate area, offering classic charm but likely requiring consideration for maintenance and updates. With just over 1,000 square feet of living space, it is notably more compact than many neighbouring homes, suggesting a cozy, efficient layout. Its primary appeal lies in its lot size—nearly 5,000 square feet—which is on par with local averages and presents a significant opportunity for gardening, outdoor space, or future expansion relative to the home's footprint.

The property’s assessed value is significantly below averages for the street, neighbourhood, and city, indicating a potentially lower property tax burden and an accessible entry point into the market. This combination suits first-time buyers, practical downsizers, or value-focused investors who are comfortable with a home that may need modernization. It’s a property for those who prioritize land potential and location over move-in-ready size and finishes, appealing to someone with a vision to gradually shape the property to their needs.

Section 2: Frequently Asked Questions

1. What does the "below average" assessed value practically mean for a buyer?
It primarily suggests a relatively lower municipal property tax bill compared to higher-assessed homes nearby. It often reflects the home's age, size, and condition in the official assessment, not necessarily its market sale price.

2. Given the home's age, what should be a priority inspection?
While all standard inspections are wise, special attention should be paid to the foundation, plumbing, electrical systems, and insulation. These are common areas where century-old homes may require updates to meet modern standards and efficiency.

3. How significant is the difference in living area compared to neighbours?
The data shows the living area is in the smaller 18th percentile on its street. This means the house itself is more modest in size than most around it, which could affect resale value but also translates to less space to heat, maintain, and furnish.

4. The sold price range is higher than the assessed value. Is that normal?
Yes. Assessed value for taxation and market value (sale price) are determined differently. In active markets, sale prices often exceed the municipal assessment, which can lag behind current market conditions.

5. Can the large lot be sub-divided or have a secondary suite added?
This depends entirely on the City of Winnipeg’s zoning bylaws for the property. Any buyer interested in development potential must verify the specific rules and restrictions with the city before purchasing.