Property Overview & Key Characteristics
This two-storey home at 1051 College Avenue in Winnipeg's Burrows Central neighbourhood presents a compelling mix of modern build and classic city living. Its primary appeal lies in its relative newness; built in 2014, it is a significantly newer construction than most homes on its street and in the wider area. This suggests updated building systems and potentially lower immediate maintenance needs. The living space is practical and above average for the immediate neighbourhood, while the lot size is standard for the area.
The property would suit first-time buyers or practical investors seeking a structurally sound, modern home without a premium for high-end finishes. It's also a strong fit for buyers who prioritize a newer building envelope over a large lot or a renovated interior, as the basement is noted as unrenovated. The lack of a garage and a pool indicates a focus on straightforward, low-maintenance living.
A thoughtful perspective: the high assessed value relative to nearby homes underscores its modern construction, but the last sale price was notably higher than that assessment, suggesting the market may value its condition and age. This creates an interesting dynamic between its official valuation and its perceived market worth.
Frequently Asked Questions
1. What does "basement, not renovated" mean?
It indicates the basement exists and is likely functional, but it has not been modernized or finished to contemporary standards. It offers usable space but may require investment to match the main living areas.
2. How does the 2014 build year compare to nearby homes?
It is exceptionally new for the area. Most comparable homes on College Avenue were built around 1930, and in Burrows Central around 1934, making this property a modern outlier.
3. Is the lot size a pro or a con?
It depends on your priorities. The land area is around average for the street and neighbourhood, but below average city-wide. It's suitable for those wanting a standard city lot without extensive yard maintenance, but not for those seeking ample outdoor space.
4. Who might this property not suit?
Buyers seeking a move-in-ready home with a fully finished basement or those requiring a garage for vehicle storage or workspace may need to budget for additions or renovations.
5. The last sale price seems high relative to the assessed value. Why?
The assessed value is for municipal tax purposes and often lags behind market trends. The higher sale price likely reflects the market's premium for a home built in the last decade compared to the century-old properties that dominate the area's housing stock.