Property Overview: 108 Collegiate Street, Winnipeg
Section 1: Key Characteristics & Appeal
This home is a study in contrasts, offering a unique proposition in Winnipeg's Bruce Park neighborhood. Its primary appeal lies in its generous 1,305 sqft of living space, which is notably larger than most homes on its street. This makes it a practical, roomier option within its immediate area. The house is a classic one-and-three-quarter storey built in 1913, featuring a detached garage and an unrenovated basement, presenting a canvas for customization.
The property’s standout characteristic is its land size. At 2,648 sqft, the lot is significantly smaller than area averages, ranking in the bottom 1% for Bruce Park. This isn't necessarily a drawback; it translates to minimal exterior maintenance, a key advantage for buyers seeking a low-yard-work lifestyle or those who prioritize indoor living space over gardening. The assessed value is modest compared to the citywide average, suggesting a potentially accessible entry point into the neighborhood.
This home would best suit a pragmatic buyer who values interior space over a large yard. It’s ideal for a first-time homeowner, a small household, or an investor looking for a character home with a manageable footprint. It appeals to those who see potential in an unrenovated basement and appreciate the charm of an older home without the burden of a massive property to maintain.
Section 2: Frequently Asked Questions
1. Is the small lot size a major disadvantage?
Not necessarily. While well below the neighborhood average, the smaller lot means significantly less time and money spent on landscaping and upkeep. It positions the property as a "low-maintenance" character home, which is a specific advantage for the right buyer.
2. The home sold for $300k in 2023, but the assessed value is much lower. Why?
Assessed value, used for calculating property taxes, is an administrative valuation and often lags behind the current market. The 2023 sale price is a clearer indicator of its recent market value, reflecting what a buyer was willing to pay at that time.
3. What does "unrenovated basement" imply?
It means the basement space is in a functional, likely original state. It offers usable space and significant potential for future finishing or customization, but you should budget and plan for any desired upgrades, which may require addressing older plumbing, electrical, or insulation.
4. How does the living area compare realistically?
The living area is a key strength. It ranks in the top 10% on its own street, meaning you get more interior space than most nearby homes. For the broader neighborhood and city, it sits comfortably around the average, offering a solid amount of room.
5. The home is over 110 years old. What should I consider?
A 1913-built home offers character and established neighborhoods. Key considerations will be the age and condition of major systems (roof, wiring, plumbing, foundation) and the efficiency of windows and insulation. An older home like this can be very solid, but a thorough inspection is essential to understand any needed updates or maintenance.