Property Overview: 845 Burrows Avenue
Section 1: Key Characteristics & Appeal
This is a classic one-storey home on a standard city lot in Winnipeg's Burrows Central neighbourhood. Built in 1907, its key feature is a renovated basement, adding valuable finished space to the 852 sqft main floor. The property includes a detached garage.
Its primary appeal lies in its position as a solid, no-frills entry point into the market. The lot size is typical for the street and area, offering manageable outdoor space. The renovated basement is a significant practical upgrade, providing flexibility for storage, recreation, or additional living area. The home last sold in 2020, suggesting a relatively recent transaction history.
This property would suit first-time buyers or practical investors looking for a straightforward, low-maintenance footprint. It's for someone who values a renovated basement over a large or modern main floor. A thoughtful perspective is that, while older and smaller than city averages, it holds its value well within its immediate area—its assessed value ranks above average for Burrows Central, indicating it's perceived as a solid asset in its local context.
Section 2: Frequently Asked Questions
1. Is the house in need of major updates?
The listing specifically notes a renovated basement, suggesting that area has been modernized. As a home from 1907, buyers should budget for potential updates to older components like plumbing, electrical, or the main floor living spaces.
2. How does the lot size compare?
At 3,005 sqft, the lot is very close to the average for both Burrows Avenue and the wider Burrows Central area. It’s a standard residential lot, not unusually large or small for this neighbourhood.
3. Why is the assessed value higher than the 2020 sale price?
The current assessed value is $24.1k, while it sold for $20.9k in 2020. This increase likely reflects general market changes and the value of the renovated basement. It's a reminder that assessed value is for taxation and can differ from market value.
4. What does "above average" assessed value for the neighbourhood mean?
While the home is below city averages for size and age, its assessed value ranks in the top 16% for Burrows Central. This indicates that, compared to its immediate peers, it is considered a higher-value property, possibly due to the basement renovation and overall condition.
5. Are the nearby comparison homes similar?
The provided comparisons on Aberdeen and Magnus Avenues show a mix of similar vintage homes with varying sizes and values. This highlights the diversity in the area; some neighbours have undergone significant value increases, while others are more modest, underscoring the importance of individual property condition.