Property Overview: 492 Flora Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-three-quarter storey home, built in 1902, presents a classic character property with significant practical advantages. Its primary appeal lies in a rare combination of generous space and recent updates. The 1,440 sqft living area is notably above average for both the street and the Dufferin neighbourhood, offering more room than many comparable homes. A key, less obvious asset is the expansive 7,357 sqft lot, which places it in the top 10% locally for land area, providing exceptional outdoor potential in an established area.
The home has a renovated basement and a detached garage. Recent sale history indicates stable value within its immediate context. It suits buyers looking for a home with historic charm but without the smallest floor plans typical of the era, and it is particularly well-matched for those who prioritize private outdoor space for gardening, play, or future projects over a brand-new build. It represents a solid, spacious option for a growing family, a multi-generational household, or a buyer seeking a long-term property with room to evolve.
Section 2: Frequently Asked Questions
1. What does the assessed value tell me about this property?
The assessed value is above average for Flora Avenue and Dufferin, reflecting its larger living area and lot size. However, it is below the citywide average, which is typical for older, character homes in established neighbourhoods compared to newer suburbs.
2. Are there any concerns with a house built in 1902?
While the renovated basement is a positive update, the age of the home means prospective buyers should pay special attention to the condition of core systems (like plumbing, electrical, and the foundation) during an inspection, as some components may be original or dated despite recent renovations.
3. How significant is the lot size?
Very. At over 7,300 sqft, the lot is a standout feature. It offers ample space for additions like a deck, shed, or garden, and provides more privacy and distance from neighbours than is common in this area.
4. What does the sale history indicate?
The property sold in 2021 and 2020 at prices consistent with its above-average assessment for the locale. This suggests a history of stable market value without extreme fluctuations, which can be reassuring.
5. Who would this home not suit?
It may not suit buyers seeking a modern, low-maintenance property or those hesitant about the potential upkeep and energy efficiency challenges common with century-old homes. Its value is in space and character, not contemporary finish or convenience.