Property Overview: 905 College Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1921, presents a straightforward opportunity in Winnipeg's Burrows Central neighbourhood. Its key appeal lies in its position as a land-value proposition with a functional living space. The 3,603 sqft lot is notably larger than most in the city and above average for the immediate area, offering room for expansion, gardening, or outdoor living. The 1,040 sqft living area is practical and typical for the street.
The home suits a specific type of buyer: the value-conscious investor, a handy first-time buyer looking for a footprint to build upon, or someone seeking an affordable entry into homeownership with a focus on the asset of the land itself. The detached garage adds utility. It's important to note the home is not renovated; its value is rooted in its potential and location rather than in move-in-ready finishes. A thoughtful perspective is that its very modest assessed value, while well below city averages, indicates a lower property tax burden, which can be a significant long-term saving. The recent sale in late 2024 suggests renewed market interest in the property's underlying value.
Section 2: Frequently Asked Questions
1. What is the true value here?
The data suggests the value is primarily in the land. The sale price has increased significantly from its 2016 and 2020 sales, indicating the lot's value is being recognized, even though the structure itself is unrenovated.
2. What does "not renovated" for the basement imply?
It typically means the basement is in original or functional condition, lacking modern finishes. Buyers should budget for potential updates and include a thorough inspection for a home of this age.
3. How does the lot size compare practically?
At 3,603 sqft, the lot is substantially larger than the Winnipeg average. This provides more private outdoor space than many newer infill properties and is a key differentiator.
4. Is the neighbourhood investment-friendly?
The steady increase in sale price over the last eight years, even for an unrenovated home, can be a positive indicator. The presence of similarly valued, smaller homes nearby suggests the area may be in a transitional phase.
5. Who might this property not suit?
It is not suited for buyers seeking a turn-key or modernized home without a renovation project. Given its age and condition, it also may not be ideal for those with a limited budget for immediate maintenance or updates.