Property Overview: 1029 College Avenue, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home on a large 7,169 sqft lot presents a compelling mix of space, value, and established neighbourhood character. Its primary appeal lies in its generous land size, which places it in the top 2% of lots on its street and the top 1% within the Burrows Central area—offering significant outdoor space and potential. The 1,440 sqft living area is notably spacious for the neighbourhood, ranking in the top 5% locally.
The home suits practical buyers looking for room to grow, garden, or simply enjoy a larger-than-average urban yard without a premium suburban price tag. It’s a fit for first-time buyers seeking a substantial property, or for those who value functional space over a recently built home, as it dates from 1949. The renovated basement and detached garage add functional utility. A thoughtful perspective is that the below-average citywide assessed value suggests a property with strong fundamentals (like lot size) that may not yet be fully reflected in its official valuation, pointing to solid value in its local market context.
Frequently Asked Questions
1. How does the lot size compare to typical Winnipeg homes?
The lot is approximately 7,169 sqft, which is above the city-wide average for comparable homes and significantly larger than most lots in its immediate area and neighbourhood.
2. What is the significance of the "Elite" and "above average" rankings provided?
These rankings compare the home’s key metrics (like land area, living space) against similar properties on the same street, in Burrows Central, and across Winnipeg. For example, its lot size is in the top 1% for the neighbourhood, indicating a standout feature.
3. The home was built in 1949. What should I consider?
While newer than many homes on its street, a 77-year-old home will likely have older building components. A thorough inspection is essential to understand the condition of major systems, the quality of the basement renovation, and any needed updates.
4. Why is the city-wide assessed value ranking much lower than the local rankings?
The assessed value is below average for Winnipeg overall, likely because values vary greatly across different city zones. However, within its own neighbourhood and street, its assessed value ranks above average, indicating it is a higher-value property in its local market.
5. What does the recent sale history indicate?
The home sold in January 2024 for $230,000. This recent transaction provides a clear, current benchmark for its market value, which was above average for both its street and the Burrows Central area at that time.