Property Overview: 1001 Selkirk Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a classic one-and-a-half storey home in Winnipeg's Burrows Central neighbourhood, built in 1913. Its key characteristics include an 815 sqft living area, a 3,012 sqft lot, a detached garage, and a basement that is present but not renovated.
The primary appeal lies in its position as a highly affordable entry point into the market. The home's assessed value is notably below average for its street, neighbourhood, and the city, suggesting a lower barrier to entry. The lot size, while below the city average, is quite typical for the central area and offers outdoor space in an established community. It suits buyers looking for a straightforward, no-frills property where value is defined by land and location rather than finishings. This could be a practical first home, a long-term hold for an investor, or a project for someone willing to put in sweat equity over time. A less obvious perspective is that a home of this age and condition, with a clear history of modest valuations, may present fewer surprises than a recently flipped property, setting realistic expectations for a hands-on owner.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
Assessed value is based on a mass appraisal system considering factors like age, size, condition, and recent area sales. This home's smaller living area, age, and unrenovated state place it in a lower value bracket, which is reflected in its significantly below-average assessment.
2. What does "below average" for lot size mean in this context?
While the 3,012 sqft lot is below Winnipeg's overall average (which includes newer suburban areas), it is much closer to the norm for central neighbourhoods like Burrows Central. It is a standard city lot for the area.
3. Is the unrenovated basement a major concern?
It indicates a project for a future owner. While it offers potential for additional space, a buyer should budget for professional inspection to understand the condition of the foundation, moisture management, and necessary upgrades to make it habitable or functional for storage.
4. Who might this property not be suitable for?
It is likely not a match for buyers seeking a move-in-ready home, those who prefer modern open-concept layouts, or anyone unable to handle ongoing maintenance or future renovation projects that a 113-year-old house will require.
5. How should I interpret the nearby "similar assessed value" properties?
These listings highlight other homes with the same municipal assessment, which can be useful for comparing tax burdens. However, they may be in different neighbourhoods and have different characteristics, so they are not direct substitutes. They primarily demonstrate that this price point exists in several areas of the city.