Property Overview: 130 Collegiate Street, Bruce Park, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This is a classic one-and-a-half storey home built in 1914, situated on a standard city lot in the Bruce Park neighbourhood. Its primary appeal lies in its efficient use of space and its position as a relatively affordable entry point into the Winnipeg market. With 1,078 sqft of living area, the home is notably above average in size for other houses on Collegiate Street, offering more interior space than many immediate neighbours. The property features a basement (unrenovated) and does not include a garage or pool.
The home’s assessed value is significantly below average for both the neighbourhood and the city, which typically translates to lower property taxes—a key, practical advantage. Its last sale in July 2022 was for $230,000, placing it around the average for the street but below average for wider Winnipeg, suggesting it may offer value in its immediate locale.
This property would suit a first-time homebuyer, an investor, or a hands-on individual looking for a character home with a solid foundation. It’s ideal for someone comfortable with a home that has an unrenovated basement and no garage, who prioritizes living space and tax efficiency over modern finishes or newer construction. The buyer likely values the potential of a historic home and is prepared for the maintenance that comes with a 110-year-old structure.
Frequently Asked Questions
1. What does the "below average" assessed value mean for me?
A below-average assessed value generally results in lower annual property taxes compared to similar-sized homes in the city, which is a tangible, long-term financial benefit.
2. Is the lack of a garage a major drawback?
It depends on your lifestyle. While it means no dedicated sheltered parking, the lot size is standard for the area, leaving room for potential future addition of a garage or parking pad, subject to city bylaws.
3. The home is older than most on the street. Should I be concerned?
The 1914 build date means systems like plumbing, electrical, and the roof will require diligent inspection. However, older homes of this era often feature solid construction and materials not found in newer builds. Budgeting for maintenance and updates is essential.
4. The living area is "above average" for the street. How significant is this?
With 1,078 sqft against a street average of 977 sqft, you are getting approximately 10% more interior space than many neighbouring homes. This is a meaningful advantage in terms of livable footprint on a similarly sized lot.
5. The basement is noted as "not renovated." What should I expect?
This typically indicates an original or utilitarian space with concrete walls and floors, likely housing the furnace, hot water tank, and providing basic storage. It presents both a blank canvas for future development and an area that may require attention to moisture control and insulation.