Property Overview
1043 Burrows Avenue is a compact, century-old home that presents a clear value proposition centered on land and location over size or modern amenities. Built in 1909, this one-storey home offers 736 sqft of living space on a 2,288 sqft lot. Its most recent sale was in 2018 for $150,000, and it holds a current assessed value of $15,500. The home has no basement, no garage, and no pool.
Key Characteristics & Appeal
This property’s primary appeal lies in its affordability and its potential as a strategic entry point into the Winnipeg market. The lot size, while below average for the city, is typical for the immediate area and represents the asset with the most long-term utility. The home itself is modest, ranking well below average in living area compared to most peers, which indicates it is best suited for a minimalist lifestyle, an investor, or a buyer viewing it as a tear-down or long-term redevelopment project.
It would suit a very specific type of buyer: a first-time purchaser seeking the lowest possible price point to gain a foothold, an investor looking for a rental property with a low tax burden, or a land-banker who values the future potential of the lot over the current structure. The appeal is not in move-in-ready condition or space, but in opportunity and location within the Burrows Central neighbourhood.
A less obvious perspective is that a home of this age and assessed value likely requires significant updates or repairs. For a hands-on buyer, this could be a canvas. Conversely, for someone seeking simplicity, its small size means lower utility costs and less maintenance—if the core systems are functional.
Frequently Asked Questions
1. Why is the assessed value so much lower than the last sale price?
The assessed value is for municipal tax purposes and is not a direct reflection of market value. The 2018 sale price of $150,000 is a more current indicator of its market worth, though conditions change. The low assessment does result in relatively low property taxes.
2. What are the implications of having no basement?
It limits storage space and places all mechanical systems (furnace, water heater) within the main living area. It also eliminates the potential for a basement suite or additional living space, which is common in many Winnipeg homes.
3. The home is over 110 years old. What should I be most concerned about?
Key concerns for a house of this age typically include the condition of the foundation, the roof, the electrical wiring (which may not be modern), and the plumbing. A thorough inspection is essential to understand the scope and priority of needed updates.
4. How does the lot size compare, and what can I do with it?
At 2,288 sqft, the lot is smaller than the Winnipeg average but standard for Burrows Avenue. It provides adequate outdoor space for a small yard or garden. Its central location and zoning would determine any future potential for redevelopment.
5. The living area is quite small. How does the layout work?
With only 736 sqft, the floor plan will be compact. It likely features a classic two- or three-room layout common to early 20th-century homes. Understanding how the space flows for daily living is crucial, as renovations to open it up may be limited by the home’s structure.