Property Summary

Key Characteristics & Buyer Suitability

This is a low-cost, entry-level property in Winnipeg’s Shaughnessy Park neighbourhood. The assessed value is approximately $92,000—placing it in the bottom 1% citywide and in the bottom 2% on its own street. The living area is correspondingly compact, and the land parcel is 2,559 square feet, which is smaller than most nearby properties (bottom 6% citywide, bottom 15% in the area). The home is older, built in a period when many houses in this part of the city were constructed.

The appeal here is straightforward: price point. For buyers whose primary constraint is budget—especially first-time purchasers, investors seeking low-cost infill or rental potential, or those willing to trade square footage and lot size for affordability—this represents one of the most accessible options on the market in Winnipeg. It is not a home for someone seeking “move-in ready” updates, generous living space, or a large yard. Rather, its value lies in its low barrier to entry and location in a stable, established neighbourhood. A less obvious perspective: because it ranks so low in value compared to surrounding homes, there is potential for forced appreciation through renovation or redevelopment, provided zoning allows it. Buyers should also note that the home’s low assessed value may keep property taxes modest, which is a practical advantage for cash-flow-conscious owners.

Frequently Asked Questions

1. What does the “bottom 1%” ranking actually mean for resale value?
It means this property is among the least expensive homes in the city by assessed value. While that limits upside in a conventional sense, it also means the purchase price is already at floor level. Any improvements—even cosmetic ones—can yield a higher percentage return than in a mid-range home. Resale will depend on the broader market, but there is less downside risk than in a higher-valued property.

2. Is the land size too small for a garage or extension?
At 2,559 sq ft, the lot is below average for the area. Whether you can add a garage or an addition depends on local setback and zoning rules. Many older lots in Shaughnessy Park are narrow, so check with the city’s planning department before assuming you have room. A detached single-car garage may be feasible, but a double-car garage or major addition likely is not.

3. How old is the house exactly?
The write-up does not give a specific year, but the ranking indicates it is newer than only 3% of homes on Manitoba Avenue and newer than 15% in the area. That suggests it was built sometime in the mid-20th century—likely the 1950s or 1960s—when many Shaughnessy Park homes went up. An inspection will clarify exact age and condition.

4. Are there any hidden costs of owning a low-assessed-value home?
Not hidden, but worth noting: low assessed value tends to mean lower property taxes, which is a benefit. However, older homes often come with deferred maintenance (roof, furnace, wiring, plumbing). You may be buying a low price tag now, but factoring in potential repairs is essential. Also, some lenders are cautious about very low-value properties, so confirm financing before committing.

5. How does this property compare to others in the neighbourhood analysis?
The neighbourhood map feature (accessible via the link on the original page) allows you to overlay this home’s assessed value, living area, lot size, and build year against nearby properties. For a buyer considering this home, the map is a practical tool to see whether other low-value homes on the same block are being renovated or flipped, which can signal whether the area is improving or stagnating.