Property Overview: 438 Stella Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-three-quarter storey home on Stella Avenue is a character property with practical updates. Its key feature is generous living space; at 1,536 sqft, it offers significantly more room than most comparable homes in both the immediate area and the Dufferin neighbourhood. This space is complemented by a renovated basement, adding functional living or storage area. The home sits on a standard city lot with a detached garage.
The appeal lies in its balance of historic charm (the home was built in 1908) and modern livability, primarily through the renovated basement. It represents a solid value proposition for a specific buyer: its assessed value is notably below both the city average and recent sale prices on the street, suggesting potential equity opportunity. This property would suit a buyer looking for a spacious, established home in a central neighbourhood without a premium price tag, who is comfortable with the maintenance considerations of an older house and values functional interior space over a large yard.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
This is common for older, character homes in established neighbourhoods compared to newer city developments. The assessment reflects factors like the home's age and local market values in Dufferin, not necessarily the replacement cost or potential market price.
2. What does "one-and-three-quarter storey" mean for the layout?
Typically, this style features a full main floor and a second floor where the roofline slopes into the walls, creating cozy bedrooms with potentially lower ceilings in some areas. It's a classic design that maximizes space within a traditional footprint.
3. The home is above average in size but average or below in lot size. What does this mean?
It indicates the house utilizes its lot efficiently. You're getting more enclosed living space relative to the land, which is a plus for indoor living but means outdoor space (yard, gardens) is more standard for the area.
4. How significant is the renovated basement?
A renovated basement in a 1908 home is a major functional upgrade. It adds clean, finished space for utilities, storage, or recreation, and often addresses foundational moisture control and insulation issues common in century-old properties.
5. The home last sold in 2019. What should I consider?
While it suggests the current owners have undertaken recent updates (like the basement renovation), it also means a full inspection is crucial. Focus on the condition of major aging components (roof, original plumbing/wiring, foundation) that may not have been part of the recent renovations.