Property Overview
This single-storey home at 971 Mcphillips Street presents a practical opportunity in Winnipeg's Burrows Central neighbourhood. Built in 1952, its key feature is a renovated basement, adding valuable finished space to the 1,186 sqft living area. The lot is a substantial 5,372 sqft, which is notably larger than most in the immediate area. The home has no garage or pool.
Its appeal lies in its position as a solid, no-frills property with a very strong value proposition within its own neighbourhood. The assessed value sits in the top 5% for Burrows Central, suggesting it is a well-maintained or improved home compared to its local peers, yet it remains priced far below the Winnipeg city-wide average. This combination of a large lot, renovated basement, and a value-leading assessment for the area makes it a standout.
This property would suit first-time buyers or practical investors looking for a land-owning entry point into the market. It’s ideal for someone who prioritizes interior space and lot size over newer construction or premium finishes, and who sees potential in a home that already has key renovations like the basement completed.
Frequently Asked Questions
1. Is the lot size a major advantage?
Yes. At over 5,300 sqft, the lot is significantly larger than the neighbourhood average (~3,491 sqft). This offers more outdoor space and potential for gardening, expansion, or simply more privacy than nearby properties.
2. What does the "Top 5%" assessed value ranking mean for the neighbourhood?
It indicates that, according to municipal assessment, this property is valued among the highest in Burrows Central. This typically reflects factors like the renovated basement, overall condition, or improvements that set it above many neighbouring homes.
3. Who might this property not suit?
Buyers seeking a modern, turn-key home or specific amenities like a garage, ensuite bathroom, or open-concept layout may find it less suitable. Its appeal is rooted in value, space, and practicality rather than contemporary style or premium features.
4. How does its value compare city-wide?
While it ranks very well in its own neighbourhood, its assessed value is below the Winnipeg average. This highlights the neighbourhood's affordability and positions this property as a potentially stronger-than-average home within a more budget-conscious area.
5. What is less obvious about the potential here?
The large lot in a central urban neighbourhood is a long-term asset that is increasingly rare. The renovated basement immediately adds functional living space without the need for a major project. For the right buyer, this represents a cost-effective way to secure a spacious property in a location where land itself holds inherent value.