Property Overview: 1594 Pritchard Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home on a 5,100 sqft lot presents a straightforward opportunity, primarily centered on its land. Built in 1955, the house itself is modest at 912 sqft of living space. Its core appeal lies in the above-average lot size for both the immediate street and the Burrows-Keewatin neighbourhood, offering more outdoor space than many nearby properties. The assessed value is notably low compared to the Winnipeg city-wide average, suggesting an accessible entry point into the market.
This property would best suit a value-conscious buyer looking for a land-focused investment. It could appeal to someone comfortable with a smaller, older home who sees potential in the generous lot—whether for gardening, expansion, or future redevelopment. It’s also a practical option for an investor seeking a rental property with a lower initial tax assessment. A less obvious perspective is that, while the living space is compact, its lot ranking in the top 7% on its street offers a relative sense of privacy and space that is uncommon in this price bracket.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
Assessed value is based on many factors including home size, condition, and local market trends. The modest living area and the home’s age contribute to an assessment that reflects its value within its specific neighbourhood context, not the broader city market where average home sizes and values are significantly higher.
2. Is the lot size a major advantage?
Yes, particularly in this location. The lot is larger than approximately 93% of comparable properties on Pritchard Avenue and 82% in the Burrows-Keewatin area. This provides more usable outdoor space than is typical for the area.
3. What does the sale history indicate?
The property last sold in March 2020 for $18,600. This historical price point, significantly below the current assessed value of $210k, underscores the property’s trajectory and should be discussed with a real estate professional to understand current market valuation.
4. Who would this home not be suitable for?
It may not suit buyers seeking a move-in-ready home with modern finishes or those requiring substantial indoor living space. The smaller square footage and older build date typically imply a need for updates or renovations.
5. How meaningful are the provided "rankings"?
The rankings are a contextual tool, showing how this property compares to similar types in three geographic circles: its street, neighbourhood, and city. They highlight that this home’s primary strength is its lot size locally, while its living space is more standard for the area but below the Winnipeg average.