Property Overview & Key Characteristics
This is a modest, one-storey home built in 1910 on a standard city lot in Burrows Central. Its primary appeal lies in its land value and location, rather than the size or condition of the existing structure. The 750 sqft living area is notably compact, and the basement exists but is unrenovated. The home features a detached garage.
The data reveals a thoughtful perspective: while the house itself is smaller and older than most in Winnipeg, its assessed value is actually around average for its immediate street and neighborhood. This suggests the value is firmly anchored in the land and location. It would suit a value-conscious buyer looking for a foothold in the area, potentially a first-time homeowner, an investor, or someone with plans to substantially renovate or rebuild in the future. Its appeal is for those who see potential beyond the current structure.
Frequently Asked Questions
1. Is this a "tear-down" property?
Given its age, small size, and unrenovated state, many buyers would consider this property for eventual redevelopment. However, its average assessment for the block indicates the existing structure still contributes to its current value.
2. How does the lot size compare?
At 3,560 sqft, the lot is fairly typical for the street and slightly larger than the average for the Burrows Central neighborhood, but below the city-wide average.
3. What does the assessed value ranking mean?
While it ranks in the bottom 8% city-wide, it's crucial to note it ranks in the top 35-40% on its own street and in the neighborhood. This highlights that property values in this specific area are consistently lower than the Winnipeg average.
4. Is the basement finished or usable for storage?
The listing specifies the basement is "not renovated." It is present but should be expected to be in a rough, unfinished state, likely suitable only for basic utilities and storage.
5. When was it last sold, and for how much?
The property last sold in April 2017 for $19,500, which is very close to its current assessed value of $19,800, suggesting stable value in the local market over that period.