Property Overview
This 1955-built, one-storey home at 1615 Pritchard Avenue sits on a notably spacious lot in Winnipeg's Burrows-Keewatin neighbourhood. Its primary appeal lies in the land itself—at 4,999 sqft, the lot size ranks in the top 10% for Pritchard Avenue, offering above-average outdoor space and future potential relative to its immediate surroundings. The 912 sqft living area is modest and functional, typical for homes of its era in the area. With a detached garage and no basement, it presents a straightforward, low-maintenance footprint.
The property suits practical buyers looking for an entry point into homeownership with a valuable land component, or investors considering the long-term redevelopment potential of the lot. Its recent sale price of $260k significantly outpaces its assessed value and previous sale price, indicating strong perceived value or demand in the current market. A thoughtful perspective is that while the home's size is below the city average, its lot size is a standout local asset, offering a balance of affordability with the rarity of larger outdoor space in an established neighbourhood.
Frequently Asked Questions
What does the lot size ranking actually mean?
The property's 4,999 sqft lot is larger than 90% of the lots on Pritchard Avenue, making it a standout feature on the street. This suggests more privacy, yard space, or potential for additions compared to most direct neighbours.
Why is the recent sale price so much higher than the assessed value?
Assessed values for tax purposes often lag behind market trends. The substantial increase from its 2016 sale price ($19.2k) to the 2024 sale price ($260k) likely reflects rising demand in the area, the value of the sizable lot, and overall market conditions.
Is the lack of a basement a significant drawback?
This depends on your needs. It means less storage or living space below grade, but it also eliminates risks and maintenance associated with basement moisture or flooding, which can be a plus for some buyers.
Who would this property not suit well?
It may not suit those requiring significant indoor living space immediately, as the home itself is modest. Families needing multiple bedrooms or dedicated workspaces might find it cramped without planning for an expansion.
How does the home's age (1955) compare?
At 71 years old, it is newer than the average home on its street but around average for the broader neighbourhood. This suggests that while updates are likely needed, the home's core structure may be in relatively good company compared to nearby, often older, properties.