Property Overview: 748 Stella Avenue, Winnipeg
Key Characteristics & Appeal
This is a classic two-storey home built in 1913, offering 1,120 sqft of living space on a 3,678 sqft lot in the Dufferin neighbourhood. Its key appeal lies in its established character and its position as a solid, average-sized home within its immediate area. The living area is typical for Stella Avenue and Dufferin, making it a practical choice rather than a standout in size. Notably, its assessed value ranks above average for both the street and the neighbourhood, suggesting it may be perceived as having better relative value or condition than many nearby peers. The basement is noted as unrenovated, presenting a blank canvas for future improvement.
This property would suit a buyer looking for a character home in a long-established community, who appreciates a project space like the basement and values a home that holds its own within the local context. It’s a pragmatic choice for someone not needing a large lot or ultra-modern features, but who finds value in a home that stands above many neighbours in terms of assessment—a possible indicator of maintained structure or desirable lot attributes. The recent sale in August 2023 provides a clear, contemporary price benchmark for buyers.
Frequently Asked Questions
1. What does the above-average assessed value for the street and neighbourhood indicate?
While not a guarantee, an assessed value ranking in the top 25-30% of local comparable homes often suggests the property is in relatively better condition, has favourable lot characteristics, or includes improvements that add value compared to its immediate peers.
2. Is the unrenovated basement a major concern?
It represents both a consideration and an opportunity. Buyers should budget for potential updates, but it also allows for customization without needing to undo recent, possibly subpar, renovations.
3. How does the lot size impact this property?
At 3,678 sqft, the lot is below the citywide average but fairly typical for the Dufferin area. This means outdoor space is modest but in line with neighbourhood expectations, potentially simplifying maintenance.
4. The home is over 110 years old. What should I prioritize during an inspection?
Given the age, a thorough inspection of the foundation, roof, electrical wiring, and plumbing is essential to understand the condition of these core systems, beyond any surface-level updates.
5. How useful are the provided comparisons to nearby sold properties?
The listed nearby sales (like 776 Stella Ave) are helpful for gauging the price per square foot and value in the direct vicinity, but note that they can vary significantly in size and condition. They provide context, not direct equivalents.