Here is a clean, standalone write-up summarizing the property at Living Area: ~1,137 sqft | Assessed Value: ~$162K | Built: 1929 | Land: 3,981 sqft | St. John’s, Winnipeg.

1. Property Overview & Ideal Buyer

This is a solid, no-frills home in Winnipeg’s St. John’s neighbourhood. It offers around 1,137 square feet of living space on a roughly 3,981-square-foot lot. It was built in 1929, so it’s an older character home with above-average construction age for the area, but its assessed value sits well below the citywide median.

Key Characteristics & Appeal:
The property’s main draw is its affordability. The assessed value of $162K is near the bottom 4% citywide, making it one of the more budget-friendly options in Winnipeg. While the living area and lot size are average for the street, the home’s value is significantly lower than neighbouring properties on Mountain Avenue. This suggests a potential fixer-upper or a good entry point for someone willing to invest sweat equity. The location in St. John’s offers a quieter, established residential feel without the premium prices of more central or trendy districts.

Who It Suits:
This property is best suited for:

• First-time buyers with a modest budget looking to get onto the property ladder in a lower-cost area of Winnipeg.
• Investors or flippers who can see past the current assessed value and envision a renovation that brings the home’s value closer to the street average (around $198K).
• Buyers who prefer an older home with character and are comfortable with potential maintenance, rather than a newer, more expensive suburban build.
• Buyers who prioritize low purchase price over square footage, modern finishes, or a prime location.

A Less Obvious Perspective: The home’s land-to-living-area ratio is reasonable for St. John’s. A 3,981-sqft lot on a 1,137-sqft home offers more yard space per interior square foot than many newer infill builds. For someone who values a usable backyard or garden, this could be a bigger asset than the house itself.

2. Five Possible FAQs

1. Why is the assessed value so low compared to other homes in Winnipeg?
The assessed value of $162K places this property in the bottom 4% citywide. This likely reflects a combination of factors: the home’s age (1929), its condition or lack of recent major upgrades, and its location in a lower-priced area of the city. It is significantly below the St. John’s area average of $200.9K, suggesting this is a value-priced entry point in the neighbourhood.

2. How does the living space compare to other homes in St. John’s?
At 1,137 sqft, the living area is slightly below the St. John’s average of 1,261 sqft (bottom 44% in the area). While it’s not the largest home on the block, it’s within a common range for older bungalows and starter homes in the district. It’s a manageable size for a couple or a small family.

3. Is the age of the home (1929) a concern?
Homes from this era typically have good bones but may require updates. The property ranks in the top 49% for its street by age, meaning it’s newer than some neighbours. However, expect considerations like older plumbing, electrical, or insulation. It’s wise to budget for potential upgrades, but a well-maintained 1929 home can offer solid construction and charm that newer builds lack.

4. What is the neighbourhood like (St. John’s)?
St. John’s is a well-established, central Winnipeg neighbourhood with a mix of older single-family homes and multi-family dwellings. It’s known for being more affordable than areas like River Heights or Wolseley, with good access to parks, schools, and amenities along Main Street. It’s a quieter, working-class area that offers value without being remote.

5. Is this property a good investment or a good first home?
It depends on your goals. As a first home, the low purchase price makes it accessible, but you’ll want to factor in potential repair costs. As an investment, the gap between the home’s assessed value ($162K) and the street average ($198K) suggests there is equity-building potential through renovations. The land itself (3,981 sqft) has value, though it’s not oversized for infill development in this area. It’s a pragmatic choice for someone looking to get in cheap and build value over time.