Property Overview: 680 Fleet Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home in Earl Grey presents a solid, updated offering with strong neighbourhood value. Its key characteristic is a recently renovated basement, adding functional living space to the 1,150 sqft footprint. The home sits on a standard city lot and features a detached garage. Built in 1949, it is notably newer than many homes in the Earl Grey area, suggesting potentially fewer concerns with some aging infrastructure.
The appeal lies in its move-in readiness with the basement renovation, combined with a location in a desirable, established neighbourhood. The data shows its assessed value ranks above average for both its street and Earl Grey, indicating it is perceived as a well-maintained property within its immediate context. It would suit first-time buyers or downsizers seeking a character home in a prime area without a major project, as well as value-conscious buyers who appreciate that the home stands out positively against its local peers for its condition and era.
A less obvious perspective is that while the lot size is average for the area, it is below the citywide average, which may appeal to those seeking lower outdoor maintenance but could be a consideration for future expansion. Additionally, its sale price in late 2023 significantly exceeded its assessed value, which is common but underscores the premium buyers place on updated homes in this location.
Section 2: Frequently Asked Questions
1. How does the home’s size compare to the neighbourhood?
At 1,150 sqft of living area, this home is almost exactly the average size for comparable homes on Fleet Avenue and in the wider Earl Grey neighbourhood.
2. What does the above-average assessed value ranking mean?
The home’s assessed value is in the top 25-26% for its street and neighbourhood, meaning it is officially valued higher than most direct peers. This often reflects recent improvements (like the renovated basement) and overall condition.
3. Is the 1949 build date a concern?
While 77 years old, this home is actually newer than the average house in Earl Grey. This can be an advantage, potentially meaning updates to foundational building standards and materials compared to much older homes in the area.
4. What is the significance of the 2023 sale price?
The home sold for $420,000 in November 2023, which was well above its assessed value. This indicates a strong market appetite for turn-key properties in Earl Grey, but buyers should consult a real estate professional for a current market evaluation.
5. Are there any apparent trade-offs with the lot size?
The lot is a standard size for Earl Grey but below the Winnipeg city average. This typically means less yard maintenance, but it may limit possibilities for large additions or extensive landscaping compared to homes on larger, suburban lots.