Property Overview: 933 Burrows Avenue
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1921, presents a practical opportunity in Winnipeg's Burrows Central neighbourhood. Its key features include a renovated basement and a detached garage. With 938 square feet of living space on a 3,005 sqft lot, the home offers a manageable scale for first-time buyers or downsizers.
The primary appeal lies in its solid positioning within its immediate context. The property is consistently "around average" when compared to similar homes on its street and in the neighbourhood for metrics like lot size, year built, and living area. This suggests a home that is well-aligned with its community, without extreme outliers in size or assessed value. The renovated basement adds modern utility to the classic structure. A notable point for value-minded buyers is the significant increase in its sale price from $19,800 in 2016 to $240,000 in 2021, indicating a strong recent history of market appreciation.
This property would best suit a buyer looking for an established, no-fuss home in a neighbourhood of similar properties. It’s a sensible choice for those who prefer a character home with some updates, without the premium or unpredictability of a fully modernized or significantly larger property. The detached garage and average-sized lot also offer flexibility for parking, storage, or outdoor space.
Frequently Asked Questions
1. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal secondary suite. Buyers should confirm its permitted use with the city and review any related permits for the renovation work.
2. How does the assessed value relate to the likely market price?
The assessed value is significantly lower than the 2021 sale price of $240,000, which is common. Market price is driven by recent sales and demand, while assessed value is used for municipal tax purposes. The 2021 sale is a more relevant benchmark for current value.
3. What does "around average" for the neighbourhood actually mean for me?
It means the home is typical for Burrows Central in terms of size, age, and value. This can be an advantage, as it may be easier to insure, finance, and eventually resell, as it doesn't deviate from what is standard and expected in the area.
4. The home is over 100 years old. What should I be concerned about?
While the renovated basement is a plus, a professional inspection is crucial to assess the condition of major aging components like the foundation, roof, plumbing, and electrical systems, which may need updating or repair.
5. How does the lot size compare to newer neighbourhoods?
At 3,005 sqft, the lot is below the Winnipeg city-wide average for comparable homes. However, it is typical for the central, established neighbourhood. It provides a decent yard but may not offer the expansive space found in some suburban areas.