Property Overview

This home at 666 Moncton Avenue in Winnipeg’s Munroe East neighbourhood presents a specific and practical value proposition. Built in 1923, it is a century-old property with a modest 939 sqft living space, sitting on a 5,000 sqft lot. Its recent sold price (2024) was in the CA$250k–300k range, with a significantly lower assessed value for tax purposes. The appeal here is grounded in fundamentals: it offers one of the larger lots on its street (ranking in the top 19% locally), providing ample outdoor space that is uncommon for the price point. The home itself is smaller and older than most in the wider city, suggesting it is a straightforward, no-frills structure.

This property would suit a pragmatic, hands-on buyer. It’s a potential fit for a first-time homeowner willing to live with the home’s current condition while planning gradual updates, or an investor looking for a land-value play with rental income potential. Its lower-than-average assessed value also indicates a relatively modest property tax burden, which is a key consideration for budget-conscious owners. It’s less suited for those seeking modern, move-in-ready finishes or above-average interior space.

Frequently Asked Questions

1. Why is the assessed value so much lower than the recent sold price?
Assessed value in Manitoba is primarily for municipal tax purposes and is based on a mass appraisal system, not necessarily current market sales. A lower assessment can be an advantage, as it typically translates to lower annual property taxes.

2. What does the 1923 build date mean for maintenance?
A home of this age will likely have older building systems, materials, and layout. Prospective buyers should budget for ongoing maintenance and prioritize a thorough inspection for foundational, electrical, and plumbing integrity. Its longevity, however, also speaks to the durability of its original construction.

3. The living area is below average. Is the lot size a compensating factor?
Yes, significantly. The 5,000 sqft lot is notably larger than many on the same street. This provides valuable outdoor space for gardening, recreation, or future expansion (subject to zoning), which can offset the smaller interior footprint.

4. How should I interpret the "rankings" compared to the street, area, and city?
These rankings contextualize the home’s key metrics. For example, while the home is older and smaller than the city average, it is more comparable in size to its immediate area and sits on a better-than-average lot for its street. This indicates you are buying a very local value proposition rather than a city-wide one.

5. The home sold recently in 2024 and also in 2016. What does that indicate?
The 8-year ownership period suggests the previous owners were not short-term flippers. The price increase from the CA$200k–250k range in 2016 to CA$250k–300k in 2024 reflects market appreciation over that period. For exact sold prices, you can request the information via email from the listing source.