Property Overview
This home at 1873 William Avenue W in Winnipeg's Brooklands neighbourhood is a practical, century-old property with clear value based on its land and recent sale history. Built in 1924, it’s a one-and-a-half storey home with 1,008 sqft of living space, an unrenovated basement, and no garage. Its primary appeal lies in its affordability and its lot size, which is notably larger than many in the immediate area. The home last sold in July 2022 for $150,000, and its current assessed value is significantly lower than city averages, indicating a very low property tax burden.
Key Characteristics & Ideal Buyer
The standout feature is the 2,606 sqft lot, which is above average for the Brooklands neighbourhood. This presents a clear opportunity for expansion, gardening, or outdoor space in a city where lot sizes are typically smaller. The home itself is modest, with living space that is compact yet efficient compared to other homes in Brooklands. Its extremely low assessed value is a double-edged sword: it suggests the structure itself adds minimal value, keeping taxes low, but also implies any buyer should be prepared for potential updates.
This property would suit a first-time buyer, an investor, or a hands-on individual looking for an affordable entry into the Winnipeg market with a focus on the land itself. It’s for someone who sees potential in the lot size and is comfortable with a home that has an unrenovated basement and likely requires modernization. The price point makes it a candidate for those prioritizing mortgage payments over immediate renovation costs.
Frequently Asked Questions
1. What does "below average" assessed value really mean for me?
It primarily means your annual property taxes will be very low compared to most Winnipeg homes. However, it also reflects that the municipal assessment places a low value on the current buildings, which is typical for older, unrenovated homes.
2. Is the unrenovated basement finished or usable?
The listing specifies it is "not renovated," which typically means it is unfinished. It likely has foundational walls and utilities but is not developed into a livable family room or suite. It should be inspected for moisture issues common in older basements.
3. The lot is larger than others on the street. What can I do with that?
The above-average lot size offers more private outdoor space than neighbours and is the property's key asset. It provides room for additions like a garage, a larger deck, or a substantial garden. Future development potential would be subject to city zoning bylaws.
4. How does the 2022 sale price relate to today's market value?
The $150,000 sale price from mid-2022 provides a recent benchmark. Current market value would depend on market conditions since then and the property's state. It establishes a firm upper limit for comparable analysis in the area.
5. What are the implications of a 100-year-old home?
A home from 1924 will have character but requires diligent inspection. Key considerations include the age and material of wiring, plumbing, the roof, and the foundation. Energy efficiency may be lower than modern builds, but the construction materials are often durable.