Property Overview
This one-storey home on a standard city lot presents a straightforward, value-oriented opportunity in Winnipeg's Burrows Central neighbourhood. Built in 1929, its key characteristics include a 908 sqft living area, a full but unrenovated basement, and a detached garage. The appeal lies in its affordability and its position as a relatively average property within its immediate area—offering a stable, no-surprises entry point into the market. The lot size is typical for the street and neighbourhood, though smaller than the citywide average.
It would suit first-time buyers or investors looking for a land-value proposition with a liveable structure. It's a practical choice for those comfortable with a home that may require updates over time, rather than a move-in-ready showcase. A thoughtful perspective is that its "average" metrics within the local context can be a strength, indicating a manageable property without the premium costs or unique challenges of more outlier homes. The very low citywide assessed value highlights its position as an affordable asset in the broader Winnipeg market.
Frequently Asked Questions
1. What is the significance of the home's rankings (e.g., Top 39% for land area)?
These rankings compare the property specifically to similar homes on the same street, in Burrows Central, and across Winnipeg. They show that for its immediate area, the home is generally around average, which can mean fewer unexpected issues compared to outlier properties. Its citywide rankings are much lower, reflecting the neighbourhood's affordability.
2. Is the basement finished?
No, the basement is noted as "not renovated." Buyers should budget for any desired improvements and consider a thorough inspection to understand its current condition and potential.
3. How does the 2016 sale price of $120k relate to today's value?
That sale price is a historical data point. The current assessed value is significantly lower, but market value is determined by current conditions, recent comparable sales, and the property's state. It's a starting point for research, not a current valuation.
4. What type of ongoing maintenance should be anticipated?
Given the age of the home (built 1929), proactive maintenance checks on major systems like roof, wiring, and plumbing are advisable. The unrenovated state suggests updates have likely been minimal, so a careful inspection is key.
5. Are the nearby listed properties direct comparables?
The listed nearby properties (e.g., 1036 Magnus Ave) are for reference to give a sense of the neighbourhood's offerings. True comparables for valuation are homes of similar size, condition, and lot that have sold very recently in the same area.