Property Overview & Key Characteristics
This one-and-a-half storey home, built in 1951, presents a practical opportunity in Winnipeg's Burrows Central neighbourhood. Its primary appeal lies in its above-average land size for the area—a 4,913 sqft lot that ranks in the top 10% locally—offering valuable outdoor space and potential. The 1,080 sqft living area is also notably spacious compared to immediate neighbours. A key feature is the renovated basement, adding functional living space. The home comes with a detached garage and last sold in 2016 for $200,000, with a current assessed value significantly lower than the citywide average.
This property would suit a value-conscious buyer looking for a home with a generous yard in a central neighbourhood. It's a strong candidate for someone comfortable with a home of its vintage (75 years) who sees potential in the existing renovation work and the lot size itself. It may also appeal to an investor or homeowner who prioritizes land value and functional space over a modern build or high citywide assessment rankings.
Frequently Asked Questions
1. What does the "renovated basement" entail?
The listing confirms the basement has been renovated, but specifics on the scope, quality, permits, or finished square footage are not provided. This would be a key area for a home inspection and questions for the seller.
2. How does the low assessed value impact property taxes?
With an assessed value notably below the Winnipeg average, municipal property taxes are likely to be comparatively lower. However, buyers should verify the most recent tax amount and understand that assessed value for taxation is not the same as market value.
3. The lot is large for the area. What are the possibilities?
The lot size is a standout feature. Beyond a spacious yard, buyers might explore future possibilities like adding a garden suite, expanding the home (subject to zoning and permits), or simply enjoying more private outdoor space than is typical in the neighbourhood.
4. How does the 2016 sale price relate to today's asking price?
The home sold for $200,000 in 2016. The current asking price is not stated in this data, so a direct comparison isn't possible. This historical data point is useful for understanding past market activity on the property but must be evaluated against current market conditions and any improvements made since then.
5. The home is older. What should I focus on during a viewing?
Given its age, pay close attention to the condition of major systems that may be near or past their typical lifespan, such as the roof, plumbing, electrical, and foundation. The renovation work on the basement should be carefully inspected for moisture control and quality. The detached garage's condition is also a practical consideration.