Property Overview: 106 Andrews Street, Winnipeg
Key Characteristics & Appeal
This is a modest, one-storey home built in 1907 on a standard city lot in the Dufferin neighbourhood. Its key appeal lies in its straightforward, functional layout with 1,152 sqft of living space and an unfinished basement, presenting a clear value proposition for a specific market. The home’s assessed value is notably low compared to city-wide averages, which translates to correspondingly lower property taxes—a significant, ongoing financial benefit often overlooked. While the house itself is older and unrenovated, it sits on a decent-sized lot for the area, offering potential for expansion or outdoor space that newer infill properties often lack.
This property would best suit a pragmatic, value-conscious buyer. It’s ideal for a first-time homeowner comfortable with a property that needs gradual updates, or an investor looking for a rental property with a low carrying cost basis. It is not a move-in-ready home for someone seeking modern finishes, but rather a solid foundation for someone who sees potential in the structure and location over the current condition.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value is based on the property's market value for taxation purposes. Its age, condition, and smaller size compared to the city-wide average of newer and larger homes result in this lower assessment, which directly benefits the owner through reduced annual property taxes.
2. What does "unfinished basement" mean for this home?
It indicates the basement is in a rough, utilitarian state—likely with exposed foundations, concrete floors, and basic mechanical systems. It provides ample storage and future potential for development, but it is not a finished living space.
3. The home sold for around $10k several years ago. What does that indicate?
Those sales were likely nominal transfers, such as between family members or for legal/title purposes, and do not reflect an arms-length market value. The current asking or market value would be substantially higher.
4. Is the smaller lot size a disadvantage?
While the lot is below average in size for both Dufferin and Winnipeg overall, it is actually quite typical for its specific street and older neighbourhood. It requires less maintenance and may still offer adequate private outdoor space for its intended market.
5. What are the considerations with a home built in 1907?
Buyers should budget for and anticipate older building systems, potential knob-and-tube wiring, older plumbing, and less insulation. A thorough inspection is essential. The upside is the potential for solid craftsmanship and character not found in newer builds.