Property Overview: 876 Strathcona Street, Winnipeg

Section 1: Key Characteristics & Appeal

This home at 876 Strathcona Street in the Minto neighbourhood is a classic, compact property built in 1922. Its key characteristic is its modest scale, with 731 sqft of living space on a 3,065 sqft lot, placing it well below the city-wide average for size. This translates to a relatively low municipal assessed value of $22,400. The appeal here is fundamentally about value and potential. For its street and immediate area, the home is consistently around or just below average in metrics like assessed value, lot size, and age, suggesting it’s a typical entry-point property for the locale.

It would suit first-time buyers, investors, or downsizers seeking an affordable foothold in Winnipeg. The recent sale history indicates steady price appreciation, and the lot size offers a decent outdoor space for a home of this vintage. A less obvious perspective is that its "below average" size city-wide is precisely what creates its affordability, positioning it not as a compromise, but as a strategic, lower-maintenance entry into the market with room for personalization.

Section 2: Frequently Asked Questions

1. Is this a small house?
Yes. At 731 sqft, the living area is significantly smaller than the Winnipeg city average (1,342 sqft). However, for the Minto area and Strathcona Street itself, it is more typical, being comparable to many other homes in the immediate vicinity.

2. Why is the assessed value so much lower than the recent sold price?
Municipal assessed value for taxation purposes is not the same as market value. The assessed value of $22,400 is based on a mass appraisal system and is typically lower. The sold price range of $200k-$250k in 2021 reflects the actual market value at that time, driven by buyer demand, property condition, and market trends.

3. What does the "Top X%" ranking mean for each metric?
This ranking shows how this property compares to similar homes in a given area. For example, a "Top 95%" rank for living area city-wide means the home is smaller than 95% of comparable properties in Winnipeg—it's in the smallest 5%. Conversely, a "Top 55%" rank for year built on its street means it is older than about 45% of its neighbours.

4. Is a 104-year-old home a concern?
It requires a mindful approach. A home from 1922 will likely need updates to mechanical systems, insulation, and windows. A thorough inspection is essential. On the positive side, it often comes with character and a well-established neighbourhood setting that newer areas may lack.

5. How stable is the value in this area?
The sold price history shows an increase from the $150k-$200k range in 2017 to $200k-$250k in 2021. While past performance doesn't guarantee future results, this suggests the area has seen appreciation. The property's value appears closely tied to the local Minto and Strathcona Street market, where it consistently ranks as a median-tier property.