Property Overview: 155 Collegiate Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home in Bruce Park, built in 1918, presents a classic character home on a generously sized lot. Its key appeal lies in the combination of above-average living space for its immediate street context and a land area that ranks in the top 9% among its direct neighbours, offering valuable outdoor space and potential. The home features a basement and a detached garage, but is noted as not having a pool and the basement is not renovated.
The property’s metrics suggest it is a solid, grounded offering within its locale. While its assessed value is below average for the wider city and neighbourhood, its last sale price in 2016 was also below average, indicating a consistent value profile. This home would likely suit a buyer looking for a character property with a sizable lot in a mature neighbourhood, who is comfortable with a home of this vintage and may be planning updates over time. It’s a practical choice for someone prioritizing land and interior space on their street over a modern build, potentially appealing to value-conscious purchasers or those interested in longer-term customization.
Section 2: Frequently Asked Questions
1. What does the "not renovated" basement condition imply?
This typically indicates the basement retains its original or older finishes, systems, and layout. A buyer should budget for potential updates to flooring, lighting, or mechanical systems, and consider a thorough inspection to assess its current condition and any moisture management needs.
2. How significant is the lot size here?
With a lot size of over 5,400 sq ft ranking in the top 9% on its street, it is a standout feature. This provides ample yard space, better privacy from neighbours, and greater flexibility for gardening, recreation, or future additions like a deck or garage expansion, compared to many nearby properties.
3. The home sold for $210k in 2016. How does that inform today’s value?
That sale price was below average for the area even then, as per the data. This historical context suggests the property has traditionally been valued for its specific characteristics (like the older home on a large lot) rather than premium finishes. It provides a benchmark, but current market conditions, interest rates, and the property’s present state will be the primary drivers of its value today.
4. The assessed value seems low compared to city averages. Why?
The assessed value is for taxation purposes and is notably below the citywide average. This often reflects the home’s age, its specific market area in Bruce Park, and potentially its condition or renovation state relative to newer homes. It can result in relatively lower property taxes, which is a financial positive for the owner.
5. What are the considerations with a 1918 build?
A home of this age offers charm and established neighbourhood roots but requires diligent attention. Key points for a buyer include ensuring the electrical, plumbing, and insulation have been adequately updated over time, checking the foundation and roof integrity, and understanding that any future renovations should respect its character while improving efficiency. A specialized pre-purchase inspection is highly recommended.