Property Overview: 847 Pritchard Avenue
Key Characteristics & Appeal
This two-storey home, built in 1912, presents a distinct value proposition centered on space and potential. Its primary appeal lies in its generous 1,728 sqft of living area, which ranks in the top 5% for similar homes on its street and the top 2% within the Burrows Central neighbourhood. This offers significantly more interior room than is typical for the area. The property sits on a 3,547 sqft lot and includes a detached garage.
The home’s assessed value is notably low compared to city-wide averages, which, combined with its last sale price of $20,500 in 2019, suggests it is a foundational property requiring investment. The basement exists but is noted as not renovated. This profile suits a specific buyer: those with renovation experience or capital looking for a spacious canvas to modernize, investors seeking a value-add opportunity in a central Winnipeg neighbourhood, or buyers prioritizing square footage over move-in-ready condition. A thoughtful perspective is that the significant living space offers a rare opportunity to create a tailored living environment in a neighbourhood where most homes are considerably smaller, though this comes with the acknowledged task of updating a 114-year-old structure.
Frequently Asked Questions
1. What does "basement, not renovated" typically imply?
It indicates the basement is functional but outdated. Buyers should budget for potential updates to flooring, lighting, and possibly moisture management, and anticipate an inspection to clarify its condition.
2. Why is the assessed value so much lower than the city average?
The assessed value reflects the property’s current state, age, and recent sale prices in its immediate area. It is aligned with values on Pritchard Avenue and in Burrows Central, but is far below the Winnipeg average due to the inclusion of newer, renovated, or higher-value homes from across the entire city in that comparison.
3. How does the living area compare to nearby homes?
It is exceptionally large for the vicinity. Comparable homes on the same street average about 1,048 sqft, and in the neighbourhood about 962 sqft, making this home over 70% larger than many of its closest peers.
4. Is the land size a benefit for this property?
The lot is around average for the street and neighbourhood, providing standard outdoor space. Its value is more in the existing footprint of the large house rather than in extra land for expansion.
5. What is the context of the 2019 sale price?
The $20,500 sale price from 2019 is a key data point that anchors the property’s recent market value. It underscores the home’s status as a project and highlights the potential for equity growth through renovation, given its standout living area.