Property Overview & Key Characteristics
This one-and-a-half storey home, built in 1923, presents a solid opportunity in Winnipeg's Burrows Central neighbourhood. Its primary appeal lies in its generous proportions relative to the immediate area. The 1,392 sqft living area is notably above average for both the street and the neighbourhood, offering more interior space than many comparable homes. This is complemented by a large 5,442 sqft lot, placing it in the top tier locally for land size. A key modern update is the renovated basement, adding functional living space. The property includes a detached garage.
The home suits practical buyers looking for value and space in a central location. It's ideal for someone who prioritizes a larger lot for gardening, children, or future expansion over a newer build. The above-average assessed value for the area suggests the property is considered a substantial asset locally, though it remains well below the city-wide average, indicating a more accessible price point. This is a property for buyers who see potential in established neighbourhoods and value interior updates and outdoor space over a more modern exterior.
Frequently Asked Questions
1. What does the assessed value tell us about the property?
While the assessed value is below the Winnipeg average, it ranks in the top 15% for both College Avenue and Burrows Central. This indicates the property is considered a higher-value home within its specific local context, likely due to its larger living area and lot size.
2. How does the lot size compare practically?
At over 5,400 sqft, the lot is significantly larger than the neighbourhood average (~3,500 sqft). This offers substantial outdoor space, which is a considerable asset in a central neighbourhood and provides more privacy and potential than typical nearby properties.
3. The home was built in 1923. What should I consider?
While the basement has been renovated, the core structure is over a century old. Prospective buyers should budget for and prioritize inspections focused on the foundational structure, roof, and original mechanical systems to understand any needed updates or maintenance.
4. Who are the typical neighbours or buyers in this area?
The property sits on a street with homes of similar age and value. The consistent, above-average metrics for the area suggest a stable, established neighbourhood where properties are well-maintained and hold their value relative to one another.
5. What is the significance of the 2018 sale price?
The home sold for $21,500 in early 2018. This historical price provides a benchmark, but market conditions have likely changed. It's most useful for understanding the property's transaction history rather than determining its current market value.