Property Overview: 725 Stella Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home in Dufferin is defined by its generous, above-average lot size of over 7,300 square feet, which stands out as its most significant feature. Built in 1910, the house itself is modest in size at 941 sqft and retains its original, unrenovated basement. It includes a detached garage. The appeal here is primarily in the land and location, offering space and potential in an established neighborhood. Its assessed value is notably low compared to the city-wide average, suggesting a lower property tax burden.
This property would best suit a specific type of buyer: a hands-on individual or family looking for a project with a clear blank canvas, especially the large yard. It’s a practical entry point into homeownership for those comfortable with gradual updates, or an investor considering the long-term value of the substantial lot. The charm isn't in move-in-ready finishes, but in the opportunity it presents.
Section 2: Frequently Asked Questions
1. What does "unrenovated basement" typically mean for a house of this age?
It likely indicates the original foundation, flooring, and utilities, possibly with low ceilings and minimal finishing. It should be inspected for moisture, insulation, and structural integrity, as updates here could be a significant future project.
2. The assessed value seems very low compared to recent sale prices. Why?
Municipal assessed value for tax purposes often lags behind market sale prices and is calculated differently. The recent sale prices (130k in 2023, 160k in 2020) are a more current reflection of its market value.
3. How significant is the large lot size?
It's a major asset. It provides ample outdoor space, room for gardening, play, or expansion (subject to zoning), and is a increasingly rare feature in older city neighborhoods, offering privacy and potential not found in newer subdivisions.
4. Is the older age of the home (1910) a concern?
It requires a pragmatic view. While it carries character, it also means older building materials, mechanical systems, and potential for outdated wiring or plumbing. A thorough inspection is essential to understand the condition and plan for maintenance or upgrades.
5. Who are the "comparable homes" used in these rankings?
The comparisons are drawn on three levels: other homes on Stella Avenue, within the broader Dufferin neighborhood, and city-wide. This shows how the property stacks up in its immediate context versus the wider market, highlighting that its large lot is exceptional at every level.