Property Overview
This one-and-three-quarter storey home on Stella Avenue is a classic Winnipeg character property built in 1907. With 1,080 sqft of living space and a 3,803 sqft lot, its metrics are generally around average for the immediate Dufferin neighbourhood. A key characteristic is its detached garage. The home has an unfinished basement and has not been recently renovated, presenting a canvas for personalization. Its appeal lies in its established community location and the potential inherent in a solid, older home. It would suit a buyer looking for an entry point into homeownership who is comfortable with a property requiring updates, or an investor seeking a character property with renovation upside. A thoughtful perspective is that its assessed value is notably below local averages, which can signal an opportunity for value growth through improvements, but also necessitates a thorough inspection to understand the condition behind the valuation.
Frequently Asked Questions
1. What does "one-and-three-quarter storey" mean for this home?
This is a common Winnipeg architectural style where the second floor has sloped ceilings and potentially dormer windows, offering full but cozier living space compared to a true two-storey home. It often adds unique character.
2. The assessed value seems very low compared to sale prices in the area. Why?
The assessed value is for municipal tax purposes and is not a market valuation. A low assessment can indicate the home has not been substantially updated or that its current condition is factored in, but property taxes will likely be lower as a result.
3. What should I consider about the unfinished, unrenovated basement?
This means all mechanical systems (heating, electrical, plumbing) are exposed and accessible for inspection. It offers flexible storage or future development potential, but you should budget for any necessary updates to these core systems.
4. How does the lot size and detached garage affect the property's use?
The lot is a comfortable size for a city home, providing decent outdoor space. The detached garage is a valuable asset for parking, storage, or as a potential workshop space, adding utility not always found in older neighbourhoods.
5. The home is older than most in the city. What are the key inspection points?
For a 1907 home, a specialized inspector should closely examine the foundation, roof structure, wiring (likely needing updates from original knob-and-tube), plumbing materials, and the overall integrity of the windows and exterior envelope to plan for maintenance.