Property Overview: 892 Boyd Avenue, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This is a compact, one-storey home built in 1932 on a standard city lot in the Burrows Central neighbourhood. Its key characteristic is its modest scale, with a living area of 560 sq ft, which places it among the smaller homes in the city. The property includes a basement, but it is not renovated, and there is no garage or pool.
The primary appeal lies in its affordability and land value. It last sold for $120k in May 2023, a price point well below city averages. While the home itself is small, the lot size of 2,283 sq ft is fairly typical for the immediate street and area, presenting a canvas for future expansion or outdoor use. Its assessed value is significantly lower than most properties, which translates to correspondingly lower property taxes—a practical, ongoing financial benefit. The home’s age is consistent with the neighbourhood, suggesting it fits the established character of the area.
This property would best suit a very budget-conscious first-time buyer, an investor looking for a straightforward rental property, or a buyer with a clear vision to renovate or rebuild over time. It is not suited for those needing move-in-ready space or modern amenities.
Frequently Asked Questions
1. What does the "below average" ranking for Living Area practically mean?
It means the 560 sq ft of living space is significantly smaller than most homes. For perspective, it’s roughly half the size of the average home on its own street. Buyers should expect a very compact layout, likely with combined living spaces.
2. The assessed value is very low ($10,900). Is that a good thing?
Yes and no. It’s a strong indicator of very low annual property taxes, which is a positive for holding costs. However, it also reflects the home’s modest size, age, and condition relative to the market. It is not an appraisal of market value, as evidenced by its 2023 sale price of $120k.
3. Is the land size a redeeming feature?
Potentially. While the lot is below the city-wide average, it is a standard size for Burrows Central. For a buyer considering a future addition, garden, or even a rebuild, the lot provides standard development potential without the premium price of a larger parcel.
4. What can be inferred from the unrenovated basement?
This typically indicates a functional, utilitarian space that may be suitable for storage or basic laundry facilities, but not for finished living areas. Buyers should budget for potential moisture issues, insulation, or upgrades to make it more habitable.
5. How does this home compare to the nearby referenced properties?
The nearby comparisons, like 912 Redwood Ave., show similarly small, older homes with low assessed values in the same neighbourhood. This confirms 892 Boyd Ave. is representative of an affordable, no-frills segment of the Burrows Central market, rather than an outlier.