Property Overview: 23 Vincent Street, Winnipeg

Key Characteristics & Appeal

This 888 sqft bungalow, built in 1954, presents a straightforward and affordable entry into Winnipeg’s Maybank neighborhood. Its primary appeal lies in its value proposition: the home has a notably low assessed value ($24,700), which is significantly below both the neighborhood and city-wide averages. This positions it as one of the most accessible properties in the immediate area, ideal for budget-conscious buyers, first-time homeowners, or investors seeking a low-cost holding.

While the living space is modest and the lot size is smaller than most in the city, the home holds a unique standing on its own street. It is the oldest house on Vincent Street, which can imply a well-established location, and its assessed value is actually around the average for the street itself. This suggests it fits comfortably within its specific micro-neighborhood, even if it sits below broader area averages. The property last sold between 2021-2025 in the $200k-$250k range.

It would best suit a buyer with practical priorities: someone seeking minimal property tax liability, who values location over size, or who views the home as a cosmetic fixer-upper rather than a major structural project. Its smaller scale could also appeal to those looking to downsize or minimize upkeep.

Frequently Asked Questions

1. Why is the assessed value so much lower than the city average?
Assessed value is for taxation purposes and is influenced by factors like home size, age, and recent sales in the area. This home’s modest square footage, older age, and smaller lot contribute to its low assessment, which results in lower annual property taxes.

2. What does it mean that this is the "oldest house on the street"?
This indicates the home was part of the original development of the street. It can be a positive, suggesting a well-located, established lot, but it also means buyers should pay particular attention to the condition of aging components like the roof, foundation, and plumbing during an inspection.

3. The lot size is noted as "below average." How much of an issue is this?
The lot is smaller than most in Winnipeg, but it’s closer to the norm for its immediate street. This means less yard maintenance, but also limited potential for expansions or additions. It’s a practical choice for those not wanting extensive outdoor space.

4. How reliable are the past sold price ranges shown?
The provided ranges are based on public data. For the exact historical sale price, which is crucial for understanding market trends and value, you need to request it directly via the email service mentioned on the listing page.

5. Who would this property not be suitable for?
It likely wouldn’t suit buyers looking for move-in-ready, modern finishes, or those needing multiple bedrooms and ample living space. Families requiring a large yard or individuals prioritizing high equity growth from the land value itself may also find other properties more aligned with their goals.