Property Overview

This is a tax-assessed property with a living area valued at $146,000, which places it in the bottom 1% of its street and area, and the bottom 3% citywide in Winnipeg. The lot size is 2,670 square feet, also below average for both the immediate street and the broader Peguis area. Year built and exact living square footage are not specified, but the rankings suggest an older, smaller home relative to nearby properties.

The appeal here is primarily affordability and entry-level pricing. For buyers who are willing to accept a smaller footprint and a less competitive location—either as a first home, a downsizing option, or a renovation project—this property offers a significant discount compared to the median assessed values in its street ($310,900), area ($488,300), and city ($390,100). It would suit budget-conscious buyers, investors looking for a low-cost fixer-upper, or anyone prioritizing a lower tax burden over modern finishes or square footage. The below-average lot size also means less outdoor maintenance, which could appeal to those seeking a simpler lifestyle or a smaller yard.

A thoughtful perspective: properties in the bottom percentile can sometimes signal undervalued pockets of a city, especially if the surrounding area is undergoing gradual reinvestment. Conversely, they may reflect persistent challenges like aging infrastructure or limited demand—so buyers should look closely at the specific street and neighbourhood conditions, not just the numbers.

Frequently Asked Questions

1. Why is the assessed value so much lower than the city average?
The assessor likely considers the home’s age, condition, living area, and lot size—all of which rank below most properties citywide. This doesn’t automatically mean the property is in poor shape, but it does suggest it is smaller, older, or on a less desirable block compared to typical Winnipeg homes.

2. How does the lot size affect usability?
At 2,670 square feet, the lot is below average for both the street and area. That means less outdoor space for gardening, parking, or expansion. It could still be perfectly functional for a single-family home with a small yard, but buyers wanting room for a workshop, large garden, or future addition should look for larger lots.

3. Is this a good candidate for a renovation project?
Potentially, but it depends on the home’s actual condition—which isn’t detailed here. The low assessed value and lot size may allow for a lower purchase price, leaving room in the budget for updates. However, factoring in renovation costs and resale limits in a bottom-ranked area is essential; don’t assume you’ll recoup every dollar spent on upgrades.

4. What does “bottom 1%” mean in practical terms?
It means this property ranks lower than 99% of homes on its street and in the Peguis area for assessed value. In real terms, you’re likely looking at a home that needs work, is smaller than most neighbours, or sits on a less desirable street. There may still be good value here, but comparables will be scarce.

5. How should I interpret the “neighbourhood analysis map” mentioned?
That map compares this property to nearby homes based on year built, living area, assessed value, and lot size. Using it can reveal whether the low ranking is an outlier (e.g., one older home among newer builds) or part of a broader pattern in the area. Both scenarios have different implications for long-term value and livability.