Property Overview
This one-and-a-half storey home on College Avenue is a classic Winnipeg character property built in 1911. Its primary appeal lies in a combination of above-average interior space for the area and a sizable lot, presenting a solid foundation for a long-term home. The house features a detached garage and an unrenovated basement, indicating a property that is livable but holds potential for updates and personalization.
The home suits practical buyers looking for value and space in a central neighbourhood. It’s ideal for a handy owner who sees the unrenovated spaces as a canvas, or for an investor seeking a character property with strong rental fundamentals. The data suggests it’s a larger-than-average home on its street and in Burrows Central, offering more interior room than many nearby properties, which is a key advantage. A thoughtful perspective is that while the home is older than most in the city, its 1911 construction places it among the established homes on its block, contributing to the streetscape's character. The significant jump in its assessed value following its 2023 sale suggests substantial improvements were made, positioning it differently than its prior sales history would indicate.
Frequently Asked Questions
What does "above average" for living area in the neighbourhood mean?
With 1,337 square feet of living space, this home is significantly larger than the average Burrows Central home (962 sq ft), placing it in the top 8% for size locally. This means more room for families or shared living arrangements compared to most options in the area.
Is the low historical sale price a concern?
The sales in 2017 and 2019 were at very low price points, which typically indicates a property in need of major repair or sold under specific conditions. The 2023 sale at $240,000 reflects a market-value transaction, suggesting significant investment or renovation occurred in the intervening years, fundamentally changing the property's condition and value.
How should I interpret the "below average" city-wide assessed value?
The city-wide assessment comparison includes all property types across Winnipeg. A below-average assessment here is not a negative marker for this home type; it primarily reflects the lower property values in central neighbourhoods compared to newer suburban areas. Its assessment is actually above average for its immediate area.
What are the implications of an unrenovated basement?
This indicates the basement is in original or functional condition but hasn't been modernized. It provides usable space and mechanicals but will likely require investment for finishing, moisture management, or updating. It should be thoroughly inspected, but it also represents potential for added living space or storage without the cost of undoing a poor renovation.
Who would this property not suit?
It may not suit buyers seeking a move-in-ready, modernized home with no projects, as the basement and age of the home will likely require attention. It's also less suited for those prioritizing new builds or suburban-style neighbourhoods, as it is a character home in a mature, central community.