Property Overview: 1016 Burrows Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home on a standard city lot in the Burrows Central neighbourhood. Built in 1914, its key characteristic is its modest 576 sqft living area, which is notably smaller than most homes in the city. The property features a detached garage and an unrenovated basement. Its appeal lies primarily in its land value and location, offering an entry point into the Winnipeg market. The lot size of 2,800 sqft is typical for the area and provides outdoor space and potential. The home last sold in 2021 for $110k, with a current assessed value significantly lower, which may indicate an opportunity for a value-conscious buyer.
This property would suit a specific type of buyer: a first-time purchaser, an investor, or a downsizer looking for a minimal footprint without a large mortgage. Its scale makes it manageable for someone seeking simplicity or a hands-on project, as the unrenovated basement presents a blank canvas. A thoughtful perspective is that its very small size, while a limitation for some, could be a deliberate choice for those prioritizing financial flexibility over space, or for an investor considering the lot's long-term potential relative to the structure currently on it.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the 2021 sale price?
Assessed values for tax purposes often lag behind market sale prices and are calculated using mass appraisal techniques. The sale price reflects what a buyer was willing to pay at that specific time, while the assessment is an estimate of value for taxation, based on older data and area trends.
2. What does "unrenovated basement" typically imply?
This usually means the basement is in original or functional condition, but not modernized. Expect basic finishes, older mechanical systems (like the furnace), and likely a concrete floor and walls. It offers utility and storage space but will require investment to become a finished living area.
3. Is the small living area a major drawback?
It depends on your needs. At 576 sqft, it is significantly smaller than the average Winnipeg home. It demands efficient use of space and would be challenging for a family. However, for one or two people, it can be cozy and cost-effective to heat and maintain.
4. How does the lot size compare, and why does it matter?
At 2,800 sqft, the lot is around the neighbourhood average. This is important because it provides outdoor space and, in the long term, the land itself can represent a substantial portion of the property's value, especially on a street with larger, redeveloped lots.
5. What is the context of the "below average" rankings for this property?
These rankings compare this home to others on the same street, in the neighbourhood, and city-wide. They objectively show that this home is smaller, older, and has a lower assessed value than most. This isn't inherently negative; it clearly defines this as a more affordable, value-oriented listing in the area.