Property Overview
This property at 1827 William Avenue W in Winnipeg's Brooklands neighbourhood is a one-and-a-half storey home built in 1914, situated on a notably spacious 5,204 sqft lot. It features a detached garage and an unrenovated basement. With 900 sqft of living space and a very low municipal assessed value, the home presents a specific and straightforward opportunity.
Key Characteristics & Appeal
The primary appeal of this home lies in its land and value proposition. The lot size is well above average for both the immediate street and the Brooklands area, offering significant outdoor space or future potential in a city where larger lots are increasingly rare. The home itself is modest, with living space around the neighbourhood average, and it requires updates, as evidenced by the unrenovated basement. This creates a clear scenario: you are purchasing a substantial piece of land with a functional, older house on it.
It would best suit a value-driven buyer looking for a foothold in the market with room to grow, or an investor/developer attracted by the lot's potential. The very low taxes, reflected in the assessed value, are a practical advantage. A less obvious perspective is that a home of this age and condition on such a lot offers a blank canvas—it can be a long-term family home expanded and renovated over time, or it could be seen for its redevelopment potential, making it interesting to different types of buyers with a vision beyond the current structure.
Frequently Asked Questions
1. What does "one-and-a-half storey" mean for this home?
Typically, this style features a full main floor with a second floor under sloping roof lines, often creating cozy bedrooms with reduced ceiling height in certain areas. Given the year built (1914), it likely has classic character but may have smaller, traditionally laid-out rooms.
2. The assessed value seems extremely low compared to typical sale prices. Why?
Municipal assessed value is for tax purposes and often lags behind market value, especially in a changing market. It is based on mass appraisal techniques and past sales. The significant gap between the assessed value and previous sale prices indicates the market values the property much higher, primarily for its land.
3. How should I interpret the lot size rankings?
The data shows this lot is in the top 7% for size within Brooklands and top 18% on its specific street. This means it's significantly larger than most properties in the immediate area, which is a key asset.
4. What is implied by "basement, not renovated"?
This confirms the basement is in original or functional condition, not updated with modern finishes. Buyers should budget for any desired improvements, such as moisture control, insulation, or layout changes, and should investigate its current utility and any potential issues.
5. The home sold recently in 2021. What does that rapid resale suggest?
While the reason isn't specified, a quick turnaround can indicate an investor flip, a change in owner circumstances, or a property purchased for its land value where plans shifted. It's advisable to inquire about any work done during that ownership period.