Property Overview: 990 College Avenue, Winnipeg
Key Characteristics & Buyer Appeal
This is a compact, post-war one-and-a-half storey home built in 1948, situated on a notably spacious lot in the Burrows Central neighbourhood. Its key appeal lies in its land value and location-specific context. While the 975 sqft living area is modest by city-wide standards, the 4,102 sqft lot size is above average for both the immediate street and the broader neighbourhood, offering valuable outdoor space or future potential in a well-established area. The home’s assessed value is very low, positioning it as an entry-point property or a land-value opportunity.
It would best suit a pragmatic, value-oriented buyer—perhaps a first-time homeowner willing to update a character home, an investor looking for a lot with redevelopment potential, or someone seeking a lower-cost foothold in a central neighbourhood. The data suggests its strengths are relative: it’s a newer build on its street, on a larger-than-typical lot for the area, but it is a smaller home in need of modernization. Its true value is for those who see the underlying asset (the land) and are less concerned with the current state of the improvements.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the property's specific market context—its age, size, and neighbourhood—not the city's overall hot spots. It indicates this is a more affordable segment of the Winnipeg market.
2. Is the lot size a significant advantage?
Yes, particularly for the area. The lot is larger than many of its immediate neighbours and the Burrows Central average, which could allow for more yard space, gardening, or future expansion where zoning permits.
3. What does the "around average" ranking for most metrics mean?
For this street and neighbourhood, the home is not an outlier in size, value, or year built. It is a typical, representative property for Burrows Central, which can be an advantage for predictable pricing and comparables.
4. Who might this property not suit?
Buyers seeking a move-in-ready, modern home with ample finished space may find it too small and dated. It’s likely a project, appealing to those with renovation plans or a focus on the land itself.
5. The home sold in 2019 for close to its assessed value. What does that indicate?
This suggests the assessed value is historically aligned with the market price in this area. It points to stability rather than rapid appreciation, setting realistic expectations for value growth.