Property Overview
This 1911 one-and-a-half storey home at 913 Selkirk Avenue presents a straightforward opportunity in Winnipeg's Burrows Central neighbourhood. Its key appeal lies in its position as an affordable entry point into the market, with a recent sale price of $120,000. The 940 sqft living space is modest but functional for a small household or first-time buyer. The lot size of 3,014 sqft is fairly typical for the immediate area, offering standard outdoor space. The home includes a basement, noted as unrenovated, and does not have a garage or pool.
The property suits buyers prioritizing low entry cost and potential over immediate move-in condition. It’s a candidate for those comfortable with a project, whether a gradual DIY renovation or a hold for land value. Its assessed value is significantly below city averages, which can mean lower property taxes—a practical, often overlooked advantage. The home’s age (115 years) suggests potential character but also necessitates a thorough inspection for foundational and systemic integrity. It would likely attract investors, first-time buyers seeking to build equity through sweat equity, or those looking for a minimal footprint in a central location.
Frequently Asked Questions
1. What does "one-and-a-half storey" mean for this home?
Typically, this style features a main floor with living areas and a second floor under sloped roof lines, often creating cozy bedrooms with potentially reduced ceiling height in parts. It's a common architectural style for Winnipeg homes of this era.
2. The assessed value is listed at $13.50k, but it sold for $120k. Why such a large difference?
Municipal assessed value for taxation purposes often lags behind market value, especially in active markets or for older homes that haven't been recently reassessed. The sale price reflects the actual current market value.
3. What should I specifically check given the home's age (1911)?
A thorough inspection is crucial. Key focus areas should include the foundation, wiring (likely needing updates), plumbing, insulation, and the roof structure. The unrenovated basement may also reveal moisture or structural issues.
4. How does the lot size compare?
At just over 3,000 sqft, the lot is slightly below average for the local Burrows Central area but is a standard size for older neighbourhoods. It provides a decent backyard but is not an unusually large parcel.
5. Are there any obvious advantages to the lower assessed value?
Yes. A lower assessed value generally translates to lower annual property taxes, which is a lasting reduction in your carrying costs, even after you renovate and increase the home's market value.