Property Overview & Appeal
This 850 sqft, one-storey home on Stella Avenue in Winnipeg's Dufferin area presents a practical and affordable entry point into homeownership. Its key characteristic is a renovated basement, adding valuable functional space to the modest main floor. Built in 1907, the home sits on a 3,676 sqft lot, which is smaller than many in the immediate area but offers manageable outdoor maintenance.
The primary appeal lies in its value proposition. With a recent sale price significantly below the city-wide average for homes, it represents a lower barrier to entry. It suits first-time buyers, investors, or downsizers seeking a straightforward, no-frills property with the foundational work of a basement renovation already completed. A thoughtful perspective for this home is its "right-sized" potential: the smaller living area and lot can mean lower utility costs, less time spent on upkeep, and a cozier, more efficient footprint for the right household.
Frequently Asked Questions
1. Is the home's smaller living area a major drawback?
While the 850 sqft living area is below average for the street and city, the renovated basement effectively expands the usable space. This makes the property more functional than the main square footage alone might suggest.
2. How does the lot size impact the property?
The lot is smaller than many on Stella Avenue. This limits expansive gardening or large outdoor projects but translates to less yard work and lower potential water costs, which can be a benefit for those seeking low-maintenance living.
3. What does the assessed value versus sale price indicate?
The home recently sold for a price far above its assessed value but still well below typical Winnipeg home prices. This suggests a competitive local market for affordable, entry-level properties, where buyer demand is strong despite the official valuation.
4. Are older homes like this a concern?
Built in 1907, the home's age is average for its neighbourhood. Buyers should prioritize a thorough inspection to understand the condition of major aging components like the roof, foundation, and plumbing, which are standard considerations for any century-old house.
5. Who would this property not suit?
It likely wouldn't fit buyers needing multiple bedrooms on the main floor, those desiring a large garage or workshop, or families looking for extensive outdoor play space. The layout and lot size cater to simpler living needs.