Property Overview: 876 College Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a classic one-and-a-half storey home built in 1912, presenting a straightforward opportunity in Winnipeg's Burrows Central neighbourhood. Its key features include a detached garage and a full, unrenovated basement. The home’s primary appeal lies in its position as an affordable entry point into the market, with a recent sale price significantly below the city-wide average. The lot, while smaller than many in the city, is notably larger than most in its immediate area, offering valuable outdoor space relative to its locale.
This property would suit a first-time buyer, an investor, or a hands-on individual looking for a project. Its lower price point and smaller living area (760 sqft) make it manageable, while the unrenovated basement and older structure provide a clear canvas for someone willing to update it over time. A less obvious perspective is its potential as a long-term hold in a neighbourhood where property values are modest; the low assessed value suggests a correspondingly low property tax burden, which can be a significant ongoing savings. It’s a practical choice for those prioritizing financial accessibility and the freedom to customize over move-in-ready perfection.
Section 2: Frequently Asked Questions
1. Is the basement finished or usable?
No, the basement is noted as "not renovated." It is a full basement, offering potential for future development, but it currently requires significant work to be used as finished living space.
2. How does the property size compare to the area?
The 2,277 sqft lot is actually larger than many in Burrows Central, ranking in the top 6% locally. However, the 760 sqft living area is compact, even for this neighbourhood, placing it in the bottom 25%.
3. What does the assessed value mean for taxes?
The assessed value is very low at $17,100, which typically results in lower annual property taxes compared to most homes in Winnipeg. This is a key financial consideration for long-term affordability.
4. Why was there a previous sale for only $5,500?
The sale in July 2024 for $5,500 was likely not an arms-length market transaction. It may have been a transfer between family members or part of an estate settlement, and does not reflect the market value, which is better indicated by the February 2025 sale of $220,000.
5. What is the neighbourhood like for investment or living?
Burrows Central is a established, no-frills neighbourhood. The data shows home values here are consistently below the Winnipeg average. This suggests stability rather than rapid appreciation, appealing to buyers seeking affordability and lower entry costs over flashy investment growth.