Property Overview
This one-and-a-half storey home at 260 Fountain Street in Winnipeg's Centennial neighbourhood presents a straightforward opportunity centered on its land and location. Built in 1951, the 1,055 sqft house sits on a notably spacious 4,361 sqft lot, which is well above average for both the immediate street and the Centennial area. The home has an unrenovated basement and no garage. Its recent sale price and assessed value are significantly below the Winnipeg city-wide average, reflecting the home's condition and modest living space rather than its land value.
The primary appeal lies in its potential. The lot size is a standout feature for the area, offering room for expansion, gardening, or future outdoor amenities. It suits a buyer looking for an entry point into the market—perhaps a first-time homeowner, an investor, or a hands-on renovator—who is prepared to update the property and values the long-term asset of a larger plot in a mature neighbourhood. It’s less suited for those seeking a turn-key or modern home with ample finished space and built-in parking.
Frequently Asked Questions
1. Is the lot size a significant advantage?
Yes. The property ranks in the top 15% for land area within Centennial. This larger-than-average lot is a key asset, offering more privacy and flexibility than many neighbouring properties.
2. What does "below average" city-wide assessed value mean?
While the value is very low compared to the entire city, it is around average for Centennial. This indicates you are paying primarily for the location and land, with the existing house contributing less to the price.
3. Who is this property not a good fit for?
It would not suit buyers who need ample finished living space immediately, desire modern conveniences, or require off-street parking (as there is no garage).
4. The home is older; are there any positives to that?
While it requires updates, an older home like this on a large lot often has a more established streetscape with mature trees and a settled neighbourhood feel that newer subdivisions may lack.
5. How does the living area compare?
At 1,055 sqft, the living space is slightly above average for its specific street but below the average for the broader Centennial neighbourhood. This highlights the home as a compact dwelling on a generous lot.