Key Characteristics & Buyer Profile

This property is a compact, modest home built in 1974. Its key characteristics center on a smaller footprint and a lower entry price point relative to the surrounding market. The living area is 832 square feet, placing it in the bottom 10–13% compared to other homes on its street, in the Parc La Salle area, and across Winnipeg. The land area is similarly compact at 1,855 square feet, ranking in the bottom 1% citywide for lot size. The assessed value of $232,000 is below average for all three scopes, reinforcing its positioning as a more affordable option.

The appeal here is straightforward: it offers a lower-cost entry into a stable Winnipeg neighborhood. Buyers won’t be paying for excess square footage or a large yard, which can be a genuine advantage for those who prioritize low maintenance and simpler upkeep. The 1974 build year is above average for the street and area, suggesting the structure may be more modern than many neighboring homes, potentially with fewer major system replacements needed than a much older house. It suits first-time buyers, downsizers, or investors seeking a cash-flow-friendly rental. A less obvious perspective: because land value typically drives appreciation more than the structure itself, the small lot limits long-term upside for land banking, but it also means property taxes and yard work stay proportionally low—a trade-off that favors buyers focused on present-day affordability over future speculation.

Five Possible FAQs

1. How does the small lot size affect resale value?
A smaller lot generally limits appreciation tied to land value, which is often the main driver of property gains in Winnipeg. However, it also keeps ongoing costs like lawn care, snow removal, and property taxes lower. Resale will likely appeal to the same buyer profile—those wanting less land and lower maintenance—rather than families seeking space for expansions or gardens.

2. Is the below-average assessed value a red flag?
Not necessarily. The assessed value reflects market conditions and the home’s size and condition relative to others. It confirms the property is priced at the lower end for the area, which is exactly its selling point. It can be a red flag if the home has deferred maintenance, but the value alone isn’t a warning—it’s a positioning signal.

3. What does “bottom 1% citywide for land area” mean practically?
It means this lot is among the smallest in all of Winnipeg. You’ll have a very compact yard, likely just a small patio or strip of grass. Parking may be limited, and there’s little room for additions or a garage. It’s best for someone who sees outdoor space as a minor amenity, not a primary feature.

4. Since the house was built in 1974, what should I look out for?
Homes from the mid-70s can have original systems approaching end of life—think furnace, water heater, roof, and windows. The above-average build year for the street is a plus, but you should still budget for potential updates. Also check for any asbestos in old flooring or insulation common in that era. A home inspection is essential.

5. How does this property compare to a typical starter home in Winnipeg?
It’s smaller than the typical starter home, both in living space and lot size, and priced below the citywide average assessed value of $390,100. That makes it an entry-level option for buyers who are comfortable with a compact layout and minimal outdoor space. It’s a practical choice for someone who wants to own rather than rent, without taking on a large mortgage.