Property Summary: 722 Flora Avenue, Winnipeg
Key Characteristics & Appeal
This two-storey home on Flora Avenue in the Dufferin neighbourhood presents a compelling blend of space, value, and established character. Its key feature is its generous 1,632 sqft of living area, which ranks within the top 6% of homes on its street and offers significantly more space than the local average. This is complemented by a renovated basement and a detached garage. The property sits on a well-sized lot of nearly 5,000 sqft.
The appeal lies in its strong positioning within its immediate community. While its citywide assessed value is modest, it ranks as "Elite" (top 5%) for assessed value on Flora Avenue itself, suggesting it is a higher-calibre property on a street of varied homes. This indicates a solid investment within a specific, established locale rather than the broader market. The 1957 build date is newer than many area homes, potentially meaning fewer concerns associated with very old infrastructure.
This home would suit practical buyers looking for ample interior space and a good lot in a mature neighbourhood. It’s ideal for those who value a home's standing relative to its direct neighbours and appreciate the character of an established area like Dufferin. It would also fit buyers comfortable with a property that may offer more value locally than it would in a citywide comparison.
Frequently Asked Questions
1. How does the sale price compare to the assessed value?
The home sold for $290,000 in September 2024, which is substantially higher than its $23,500 assessed value. This is normal, as municipal assessed value for taxation purposes is not a market appraisal and often differs significantly from actual sale prices.
2. Is the living space larger than most area homes?
Yes. With 1,632 sqft, this home offers above-average living space. It provides about 500 more sqft than the average comparable home on Flora Avenue and in the Dufferin area.
3. What does the "Elite" assessed value ranking mean for this street?
It means that, relative to its 209 neighbours on Flora Avenue, this home is in the top 5% for its municipal assessment. This suggests it is considered one of the more substantial properties on the street, which can be a point of stability and pride.
4. How old is the home compared to others nearby?
Built in 1957, it is notably newer than the average home on Flora Avenue (avg. year built 1927) and in Dufferin (avg. 1925). This may translate to updates in core systems like wiring or plumbing that older homes might still require.
5. What is the neighbourhood like for similar properties?
Flora Avenue and Dufferin consist primarily of older, character homes on decent-sized lots. The data shows a mix of home sizes and values, indicating an established, non-uniform neighbourhood. The nearby sold listing at 669 Flora Avenue (built 1913) suggests a streetscape of early to mid-20th century housing.