Property Overview: 127 Traverse Avenue, Norwood East, Winnipeg

Key Characteristics & Appeal

This home presents a clear value-oriented opportunity in Winnipeg's Norwood East neighbourhood. Its most defining characteristic is its assessed value of $179k, which is significantly below averages for the immediate street ($303.6k), the wider area ($329.4k), and the city overall ($390.1k). The lot size of 3,299 sq ft is fairly typical for Traverse Avenue but is below the neighbourhood and city averages, suggesting a more manageable outdoor space. The home last sold between $150k-$200k in early 2021.

Its primary appeal lies in its affordability and potential. It suits first-time buyers seeking an entry point into a mature neighbourhood, or investors looking for a property with a lower entry cost. The price point allows room for a renovation budget, making it a candidate for those wanting to add value through updates. A less obvious perspective is that a home valued this far below area norms might offer a measure of insulation from market downturns, and the smaller lot could mean lower maintenance costs and property taxes compared to neighbouring properties.

Frequently Asked Questions

1. Why is the assessed value so much lower than neighbouring homes?
The assessed value is based on municipal evaluation, which considers factors like living area, age, condition, and recent sales. A value this far below area averages typically indicates a smaller home, an older structure in need of updates, or a combination of both.

2. What can the sold price history tell me?
The home sold between $150,000 and $200,000 in January 2021. This provides a recent market benchmark, but the exact price is not publicly disclosed. The current assessed value suggests the municipality believes its market value has not shifted dramatically since that sale.

3. How does the lot size compare, and what does it mean?
At 3,299 sq ft, the lot is slightly smaller than the street average. This means a more compact yard, which can be easier to maintain. It may offer less potential for large additions compared to deeper lots in the area, but is still a decent size for a city property.

4. Are the comparison homes on this page similar properties?
The "similar assessed value" listings are matched by municipal valuation only, not by size or neighbourhood. The "nearby properties" are close geographically but may differ significantly in size, condition, and value, as seen with the higher-valued reference homes on Lloyd Street.

5. How can I get the exact historical sold prices?
The site does not display exact sold prices due to data source restrictions. You must request them via email from the site operator, who will perform a manual lookup and send the figures directly to you.