875 Aberdeen Avenue

Property Overview: 875 Aberdeen Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This is a classic, no-frills Winnipeg one-storey home built in 1913, situated on a standard 3,000 sqft lot in Burrows Central. Its key appeal lies in its position as an affordable entry point into the market, particularly for a stand-alone house with a detached garage. The 700 sqft living area is compact, suggesting a simple layout suitable for a first-time buyer, downsizer, or an investor. The home has an unfinished basement, presenting a clear opportunity for future expansion or customization to add value.

The property’s standout feature is its land value within the local context. While the house itself is modest, its lot size is typical for the street and neighborhood, meaning you're purchasing a proportional share of land rather than an undersized parcel. The most recent sale price of $180k (November 2023) aligns with the home's assessed value and recent sales of similar nearby properties. This home would suit a pragmatic buyer who views the structure as a solid shell or a candidate for gradual renovation, or an investor looking for a straightforward rental property with manageable upkeep. Its value is fundamentally rooted in location, lot, and potential, rather than in immediate move-in finish or size.

Section 2: Frequently Asked Questions

1. What does the "unfinished basement" mean for potential renovations?
It means the basement has not been developed into living space. This offers flexibility for future projects like adding a rec room, laundry area, or storage, but any renovation would require appropriate permits and investment to ensure it is properly insulated, moisture-controlled, and finished.

2. How does the recent sale history affect the property's value?
The home sold for $180k in late 2023, which is significantly higher than its previous sale price of $11.5k in 2020. This indicates a major reassessment of the property's market value in recent years, with the current price now reflecting the broader market conditions for entry-level homes in the area.

3. Is the smaller living area (700 sqft) a concern?
It depends on your needs. It is below the average for the street and city, indicating a cozy, efficient footprint. This can mean lower utility costs and less maintenance, but requires thoughtful space planning. It's ideal for 1-2 people.

4. What is the significance of the lot size rankings?
The lot is around average for both Aberdeen Avenue and the Burrows Central neighborhood. This is positive, as it means the property isn't on an unusually small or narrow lot compared to its immediate peers, preserving typical backyard space and side access.

5. Who might the "investor buyer" be for this type of home?
Given its size, assessed value, and recent sale price, this property could appeal to an investor looking for a long-term hold in a stable neighborhood. Its affordability lowers the entry cost, and the unfinished basement could allow for the creation of a secondary suite (subject to zoning and licensing) to generate rental income.