Property Overview
This 1,120 sqft one-and-a-half storey home, built in 1911, sits on a notably spacious 4,921 sqft lot in Winnipeg's Earl Grey neighbourhood. Its key features include a renovated basement and a detached garage. The home presents a distinct blend of historic character and practical updates, with its appeal rooted more in its land and location than in the size or modernity of the structure itself.
Key Characteristics & Appeal
The primary draw of this property is its generous lot size, which ranks in the top 7% for the Earl Grey area, offering valuable outdoor space and potential in a mature neighbourhood. While the living space is modest and typical for the street, the home’s assessed value is above average for Garwood Avenue, suggesting the lot and recent improvements, like the renovated basement, contribute positively to its worth. The 1911 build date means buyers should appreciate classic architecture and be prepared for the maintenance that comes with an older home.
Its appeal lies in offering a balance: a renovated, move-in-ready basement adds modern functionality to a character home, while the large lot provides room for gardens, play, or future expansion. It suits a first-time buyer or small family looking to enter the established Earl Grey community, who values private outdoor space over a large interior footprint. A thoughtful buyer might see the lot as a long-term asset, where the land value could appreciate significantly, making the older home a worthwhile investment.
Frequently Asked Questions
1. What does the above-average assessment but older build date mean for me?
It typically indicates that the land value and any recent renovations (like the basement) are strong positive factors, offsetting the age of the structure. Your property taxes will be based on this assessment.
2. Is the renovated basement a legal suite?
The listing does not specify it as a legal secondary suite. Buyers should confirm its status with the city and their agent, as this affects regulations, insurance, and value.
3. What are the implications of such a large lot in this neighbourhood?
A lot size in the top 7% for the area is a significant asset. It offers more privacy, space for additions like a garage or garden, and potentially stronger value retention. Check local zoning bylaws for any development restrictions.
4. How does the recent 2023 sale price compare to the current assessed value?
The home sold for $35.5k in May 2023, which is higher than its current $33.8k assessed value. Assessments are for taxation and may not reflect current market value; a buyer’s agent can provide a comparative market analysis.
5. What should I specifically check in a home from 1911?
Prioritize inspections of the foundation, roof, plumbing, electrical systems (knob-and-tube wiring may be present), and insulation. Ensure renovations, especially the basement, have proper permits and address moisture control.