Property Overview: 410 Sydney Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This home at 410 Sydney Avenue in Munroe West is defined by its value proposition and practicality. Built in 1922, it's a character home with a notably low assessed value of $199k, which sits well below averages for the street, neighbourhood, and city. The 741 sqft living area is compact, ranking it among the smaller homes in Winnipeg, but it is situated on a decent-sized lot of 4,175 sqft that is actually above average for its immediate street.

The primary appeal lies in its affordability and land potential. It represents a lower-than-average entry point into the Winnipeg market, particularly for the lot size offered. This suits first-time buyers, investors, or downsizers seeking minimal property tax liability. Its recent sale history (last sold in 2020 for an estimated $100k-$150k) suggests it may be a fixer-upper or a candidate for renovation, appealing to those looking to add value. The older build year means potential for classic architectural details but also necessitates a thorough inspection for updates to systems like wiring and plumbing. It’s a property for buyers prioritizing land and location over move-in-ready space, where the value is in what you can build, save, or patiently improve.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than area averages?
The assessed value is based on municipal evaluation, which considers factors like the home's age, size, condition, and recent improvements. A value significantly below averages for comparable homes often indicates a property that may require modernization or has not been assessed following recent major renovations.

2. What does the sold price range from 2020 tell us?
The previous sale in the $100k-$150k range suggests the property was likely in need of significant work or sold under unique conditions. Comparing that price to the current assessed value is a useful starting point for understanding market changes and the seller's potential equity.

3. For a 104-year-old home, what should be the inspection priorities?
Beyond a standard inspection, special attention should be paid to the foundation, roof, electrical wiring (likely needing updates), plumbing (especially original galvanized or lead pipes), and insulation. The mechanical systems and compliance with modern building codes are key considerations.

4. How does the lot size compare, and what are the possibilities?
At 4,175 sqft, the lot is larger than many on Sydney Avenue. This presents potential not always found with smaller, older homes—options could include expanding the existing footprint (subject to zoning), adding a garage, or creating substantial garden/outdoor space. It’s a defining feature of the property.

5. How can I get the exact historical sold prices?
The provided sold data is based on public records, not the MLS. For fully verified and exact transaction figures, you must request a manual lookup via email through the SaveOnHouse site, as industry rules prevent the direct display of MLS sold records on the platform.