Property Overview
This 1913 one-and-a-half storey home on a standard 3,583 sqft lot in Burrows Central presents a straightforward opportunity. Its key appeal lies in its above-average living space (1,215 sqft) for the immediate area, offering more room than many neighbouring homes. The property includes a detached garage and an unrenovated basement, indicating it’s a candidate for value-adding improvements. With a very modest assessed value and recent sale prices, it sits firmly in the affordable segment of the Winnipeg market.
This home would suit a pragmatic buyer looking for a footprint to build upon, such as a first-time investor comfortable with a renovation project, or an owner-occupant seeking a lower-cost entry into homeownership with space to grow. Its value is positional: while its metrics are below average citywide, they are competitive within the neighbourhood, suggesting it’s a typical offering for this specific, value-focused area.
Frequently Asked Questions
What does "above average living area for the neighbourhood" actually mean?
It means that compared to similar homes in Burrows Central, this house offers more interior space (1,215 sqft vs. a neighbourhood average of 962 sqft). This is a practical advantage, providing more room for a family or for future renovations without needing an addition.
Why is the assessed value so much lower than the citywide average?
Assessed values are relative. While it is significantly below the Winnipeg average, it is actually around or above average for its own street and neighbourhood. This highlights the property's context: it is priced for the Burrows Central market, not the city as a whole.
The home was built in 1913. What should I consider?
While the structure is over a century old, the data shows this is typical for the area. The key considerations will be the condition of major systems (plumbing, electrical, foundation) and the insulation. The unrenovated basement presents both a cost and an opportunity to modernize to current standards.
What can the recent sale history tell me?
The property sold for $22.4k in late 2021 and $13.4k earlier that same year. This volatility on a low base price is not uncommon for homes in this price segment, where investor activity, condition, and motivation can significantly influence sale price. It underscores the importance of a current, professional valuation.
How useful are the "similar assessed value" comparisons to homes in other neighbourhoods?
These show what a similar municipal assessment can buy across Winnipeg, but they are not direct comparisons. A $21k assessment in Varsity View likely represents a very different property type and market than this house in Burrows Central. They are more useful for understanding assessment relativity than for direct property comparison.