Property Overview & Key Characteristics
This home at 1008 Burrows Avenue is a classic one-and-a-half storey character property, built in 1907. Its primary appeal lies in its position as an affordable entry point into the Winnipeg market, particularly for a stand-alone house. With a modest 1,014 sqft of living space and a smaller-than-average 1,866 sqft lot, it is a compact and manageable property. The home has an unrenovated basement and no garage.
The data reveals a nuanced picture: while the lot size is significantly smaller than most in the city, the living area is quite typical for the immediate neighbourhood. Its assessed value is notably low, which translates to lower property taxes—a key financial advantage. The sale history shows stable value, having sold for $140,000 in both 2019 and 2021.
This property would best suit a first-time buyer, an investor, or a practical minimalist who values character over size and is budget-conscious. It’s for someone who sees potential in a foundational structure and prioritizes low carrying costs. A thoughtful perspective is that the small lot size, while less private, means minimal exterior maintenance, freeing up time and resources. Its consistent sale price in recent years may also indicate a stable, non-speculative corner of the market.
Frequently Asked Questions
1. What does "below average" lot size mean for me?
While the land area is smaller than most city lots, it requires less upkeep. This can be a benefit for those seeking lower maintenance, though it may limit expansion or outdoor privacy.
2. The home was built in 1907. Should I be concerned?
Expect character features but also the need for careful inspection. While the century-old structure has stood the test of time, systems like wiring, plumbing, and the foundation should be evaluated for modern standards and upkeep.
3. Why is the assessed value so much lower than typical city homes?
The low assessed value primarily reflects the property's modest size and characteristics compared to the wider Winnipeg market. This results in significantly lower annual property taxes, which is a lasting financial benefit.
4. The price hasn't changed between the 2019 and 2021 sales. Is that a red flag?
Not necessarily. In this price segment, it can indicate a stable, realistic valuation rather than speculative swings. It underscores the importance of a professional inspection to ensure the condition supports the value.
5. Who would this property not be suitable for?
It may not suit buyers needing ample storage (no garage), multiple dedicated rooms, significant outdoor space, or those unwilling to take on a home with an unrenovated basement and potential updates.