310-1683 Plessis Road

Property Overview & Key Characteristics

This property at 310-1683 Plessis Road is a compact, 686 sqft residence built in 1987, situated in Winnipeg's Meadows neighbourhood. Its primary appeal lies in its exceptional value proposition, as evidenced by its very low assessed value of $13,300. The data suggests it ranks in the top 1% of properties on its street and the top 0% within its entire neighbourhood for value, indicating it is one of the most affordable options in the area. With no basement, pool, or garage, it represents a simplified, low-maintenance living arrangement.

This home would best suit first-time buyers seeking a minimal financial entry point into the market, investors looking for a low-cost rental unit, or downsizers prioritizing affordability and simplicity over space. A less obvious perspective is its potential as a "foot-in-the-door" property in a well-established area, allowing an owner to build equity with very low property tax obligations. Its modest size and ranking suggest it is likely a condo or townhouse-style property, emphasizing shared exterior maintenance.

Frequently Asked Questions

1. What type of property is this likely to be?
Given the address format ("310-1683"), the compact size, lack of a private garage, and very low assessed value compared to nearby single-family homes, this is almost certainly a condominium or apartment-style unit within a larger building or complex.

2. Why is the assessed value so much lower than nearby properties?
The assessed value reflects the property's smaller size, older building age, and likely its condominium structure. Unlike the compared single-family homes, this unit does not include the value of private land, a basement, or a garage, focusing solely on the living space.

3. What does the "Top 0% in neighbourhood" ranking mean?
This statistic means this property's assessed value is lower than 100% of other properties in the Meadows neighbourhood used for comparison. It is the most affordable on the list, not the "best." It highlights its unique position as a minimum-cost option in the area.

4. Are there any major concerns with a property of this age and value?
Prospective buyers should focus on the condominium corporation's financial health and reserve fund. For a building from 1987, major common element repairs (roof, windows, building envelope) could be upcoming. A low purchase price must be balanced with potential for special assessments or rising condo fees.

5. How useful is the 2016 sale price for determining today's value?
While it shows a history of being a low-value property, the 2016 sale price is not a reliable indicator of current market value. It does, however, firmly establish a long-term trend of this unit being a distinctly affordable option within its market area.