Key Characteristics & Appeal

This property stands out for its compact, efficient footprint—just 1,035 square feet of living space on a 2,757-square-foot lot. The tax-assessed value of $103,000 is remarkably low relative to citywide medians (roughly $390,000) and area averages (approximately $473,800), landing in the bottom 1% citywide. The home itself was built in an older era, likely mid-20th century, placing it among the older housing stock in Transcona North.

The appeal here is not about space or prestige. It’s about affordability and low entry cost in a market where that is increasingly rare. The home ranks at the very bottom for both assessed value and living area compared to its neighbours, which means a buyer is trading square footage and modern finishes for price accessibility. This property suits first-time buyers priced out of starter homes in more central areas, investors looking for a low-carry cost rental or flip candidate, or someone willing to take on cosmetic updates in exchange for a lower mortgage. The location—Transcona—offers a quieter, established suburban feel with its own commercial strip and transit connections, but without the inflated valuations of more central Winnipeg neighbourhoods.

Five Possible FAQs

1. Why is the assessed value so low compared to the area average?
The $103,000 figure reflects the home’s age, smaller square footage, and likely dated interior conditions. The area average of $473,800 includes much larger, newer, or fully renovated homes. This property is essentially priced at the bottom of the local market, making it one of the more budget-friendly options in Transcona.

2. Is the lot size considered small for this neighbourhood?
At 2,757 square feet, the lot is in the bottom percentile citywide, but it aligns with many older infill or side-yard-style homes in Transcona. It’s not a sprawling yard—expect a modest front and back area, likely with limited privacy or space for extensive landscaping.

3. What does “Bottom 1%” mean for living area vs. value?
This means the home is both among the smallest and least valuable in Winnipeg. The living area ranking shows you’re getting less square footage than 99% of city properties. The value ranking confirms that low size directly translates into low tax assessment, not that the home is necessarily in poor condition—just modest by almost every comparison.

4. Might there be hidden costs due to the home’s age?
Yes. An older home (likely built in the 1950s or 1960s) can come with outdated electrical, plumbing, insulation, and possibly lead paint or asbestos in older finishes. A building inspection is strongly advised. Insurance premiums may also be slightly higher for older construction. However, property taxes will remain low due to the assessed value.

5. Could this property be renovated to increase its value, or is it better left as-is?
Given its small footprint, major value gains would likely come from cosmetic updates (kitchen, bathroom, flooring) rather than additions. The lot size limits expansion. A full gut-and-rebuild rarely pencils out at this price point unless you plan to hold long-term. A cost-effective renovation could improve its ranking within Transcona, but it will never compete with larger or newer homes in the area.