Property Overview: 974 College Avenue, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1948, sits on a notably spacious 4,103 sqft lot in the Burrows Central neighbourhood. With 1,138 sqft of living space, it offers a comfortable footprint that is above average for its immediate area. The property’s core appeal lies in its land value and location-based practicality. It represents a classic Winnipeg post-war home, likely appealing to value-conscious buyers, including first-time homeowners or investors looking for a solid entry point into the market. The lot size is a significant asset, ranking well within both the street and neighbourhood context, offering potential for outdoor space, gardening, or future expansion subject to zoning.
The home suits buyers prioritizing lot size over modern finishes or extensive square footage. Its assessed value is modest, especially when viewed citywide, suggesting a lower property tax burden relative to many Winnipeg homes. The recent sale history shows a substantial increase in value from 2016 to 2024, indicating positive momentum in the local market. A thoughtful perspective for a buyer is to see this as a "land-forward" opportunity; the value is anchored more in its position on a large lot in an established community than in the structure itself, making it a candidate for a live-in renovation or a long-term hold.
Frequently Asked Questions
1. What are the property's standout features compared to nearby homes?
The lot size is a key standout. At over 4,100 sqft, it is larger than many lots on the same street and in the broader Burrows Central area, offering more outdoor space than typical comparables.
2. What should I know about the home's condition and updates?
The listing notes no basement and no garage. Being built in 1948, prospective buyers should budget for a thorough inspection to understand the condition of major aging components like the roof, wiring, and plumbing, and to plan for any desired modernization.
3. How does the assessed value relate to the recent sale price?
The property has a very low assessed value ($18,200) compared to its September 2024 sale price of $210,000. This is not uncommon, as assessed values for tax purposes often lag behind market values. Buyers should anticipate that municipal property taxes will likely be reassessed following the sale.
4. Is this a good investment compared to the wider Winnipeg market?
The sale price ranks in the top 90% citywide (meaning it's lower than 90% of Winnipeg home sales), highlighting its affordability within the city. Its value has appreciated significantly since 2016, suggesting the specific neighbourhood may be seeing growth, but it remains a distinctly more affordable option than the Winnipeg average.
5. Who would this property be most suitable for?
It is best suited for a practical, budget-aware buyer—such as a first-time homebuyer, a small family, or an investor—who values a larger lot in a central neighbourhood and is comfortable with a home that may require updates over time. It is less suited for those seeking a move-in-ready modern home or extensive indoor living space.