Property Summary

Key Characteristics and Buyer Profile

This is a low-cost entry point into the Winnipeg market, with a tax-assessed value of $146,000—well below the citywide average of $390,000 and in the bottom 1% for both its street and area. The lot is 2,670 square feet, also significantly smaller than typical properties in the neighbourhood. The property ranks in the bottom 4% on its street for lot size and bottom 7% citywide. Its appeal lies in affordability: it’s one of the cheapest options available in a city where median values are nearly three times higher. This would suit first-time buyers with a tight budget, investors looking for a low-cost rental or flip that doesn’t require taking on a large mortgage, or anyone prioritizing location over square footage or land. However, the low rankings suggest the home may need updates or lacks the space or land that most buyers in the area expect—so it’s likely a compromise property, not a long-term family home.

Frequently Asked Questions

1. What does “bottom 1%” mean for assessed value?
It means this property’s assessed value is lower than 99% of other homes on the same street and within the same area. In practical terms, it’s one of the cheapest properties in the neighbourhood—likely because of age, condition, or size.

2. Is $146,000 the asking price or the market value?
It’s the tax-assessed value, not the listing price. Assessed values are used by the municipality to calculate property taxes and often lag behind current market conditions. The actual sale price could be higher or lower depending on demand and condition.

3. Why is the lot size important for this property?
At 2,670 square feet, the lot is well below average. For comparison, a standard 50-by-100-foot lot is 5,000 square feet. This means limited yard space, fewer options for extensions or additions, and possibly less privacy from neighbours.

4. Who typically buys a home like this?
Often it’s first-time buyers who can’t qualify for a larger mortgage, or investors seeking a cash-flow-positive rental with a low purchase price. It may also appeal to downsizers who want urban proximity and don’t need land.

5. Should I be concerned about the low rankings across all categories?
Not necessarily—but it’s worth investigating why. The low assessed value, small lot, and below-average living area suggest the property may be older, in need of renovation, or located in a less desirable pocket. It could also simply be a small home on a small lot in a neighbourhood with larger, pricier homes. A walkthrough and inspection will clarify whether the low value reflects deferred maintenance or just modest proportions.