Property Overview: 879 College Avenue, Winnipeg
Key Characteristics & Buyer Appeal
This is a classic one-and-a-half storey home built in 1913, situated on a standard-sized lot in the Burrows Central neighbourhood. Its key features include a detached garage and an unfinished basement. With 940 square feet of living space, the home is compact, placing it around the average for its immediate area but below the citywide norm. The property’s assessed value is notably low compared to most of Winnipeg, which is reflected in its recent sale history.
The primary appeal lies in its position as an affordable entry point into the housing market. It suits a practical, hands-on buyer—perhaps a first-time purchaser, an investor, or someone looking to minimize their mortgage footprint. The home represents a foundation rather than a finished product; its value is in the land and the structure's potential. A thoughtful perspective is that its very modest assessment could present a long-term tax advantage, and the unrenovated basement offers a blank slate for future expansion or customization, avoiding the cost of undoing someone else’s work.
Frequently Asked Questions
1. Is this a "tear-down" property?
Not necessarily. While the assessed value is very land-weighted, the home is still standing and functional. Its future would depend on a buyer's intentions, the home's condition upon inspection, and local development trends.
2. What does the "below average" assessed value really mean?
It means the city's assessment for this property is significantly lower than the Winnipeg average. This typically results in lower property taxes, but it also indicates the home itself contributes less to the total value compared to the lot.
3. Who might this property not suit?
It would not suit buyers looking for a move-in-ready, modern, or spacious home without renovation work. It may also be challenging for those unable to handle incremental upgrades or who prioritize neighbourhoods with newer home inventories.
4. How does the lot size compare?
At 3,593 sqft, the lot is slightly below the average for College Avenue but is a fairly standard size for the central neighbourhood. It offers typical backyard potential for the area.
5. The home sold for around its assessed value in 2017. What does that suggest?
This pattern suggests the market has historically viewed the property in line with its official tax assessment, reinforcing its identity as a value-driven, no-frills opportunity rather than a speculative asset.