Property Overview: 674 Moncton Avenue, Winnipeg

Key Characteristics & Appeal

This 1947-built home in Munroe East presents a practical opportunity centered on space and land. With 1,092 sqft of living area, it offers more interior space than most comparable homes on its street and in the immediate area. Its standout feature is the 5,001 sqft lot, which is notably larger than many neighbouring properties, providing valuable outdoor space and potential.

The home’s appeal lies in its above-average footprint for the local market, offering room to grow or customize on a substantial lot. Its assessed value is modest relative to the wider city, which may indicate a lower property tax burden. This property would suit a value-conscious buyer, such as a first-time homeowner or an investor, who prioritizes lot size and living space over a modern build and is prepared for the maintenance or updates typical of a home from this era. It’s a grounded choice for someone looking to establish themselves in a neighbourhood without paying a premium for newer construction.

Frequently Asked Questions

1. How does the home’s age affect its value and condition?
Built in 1947, the home is older than most in both Munroe East and Winnipeg overall. While this can mean character and established landscaping, prospective buyers should budget for potential updates to major systems like plumbing, electrical, or the roof, and factor in a thorough inspection.

2. Why is the assessed value significantly lower than the city-wide average?
The assessed value of $26,400 is well below the Winnipeg average, reflecting the home’s age, modest specifications, and the typical values in its area. This generally translates to lower annual property taxes, which is a key ongoing cost saving.

3. What does the sold price history indicate?
The home sold for an estimated $250k-$300k in 2021. This past price, combined with the current low assessed value, suggests the market price may be influenced more by physical condition, updates, and lot value than by the assessment alone.

4. How does the lot size compare, and what are the benefits?
At 5,001 sqft, the lot is larger than 84% of those on Moncton Avenue. This is a significant advantage, offering more privacy, yard space for gardening or recreation, and future potential for additions or landscaping projects that smaller lots cannot accommodate.

5. What are the nearby properties like?
The immediate neighbours on Moncton Avenue are homes of similar vintage, creating a consistent streetscape. Listing comparisons show a mix of recently built and older homes in Munroe East, indicating a neighbourhood in a gradual state of renewal and diversity in property styles.