Property Overview
This 1910 two-and-a-half storey home on Mulvey Avenue in Earl Grey presents a distinct profile. Its primary appeal lies in its generous, above-average living space of 1,585 sq ft, which ranks in the top 7% for its immediate street and top 12% within the desirable Earl Grey neighbourhood. This spacious interior is paired with a notably low assessed value, creating a potential value proposition for the right buyer. The trade-offs are clear: the home is on a smaller lot, is one of the older homes in the area, and features an unrenovated basement. It suits a practical buyer who prioritizes interior square footage and location over a large yard or modern construction, and who is prepared for the maintenance or update projects typical of a century-old home. It’s a solid candidate for those looking to enter the Earl Grey community, where the value is often in the neighbourhood itself, with a home that offers room to grow into or renovate over time.
Frequently Asked Questions
1. Is the low assessed value a red flag?
Not necessarily. It primarily reflects the home’s age, smaller lot size, and condition (including the unrenovated basement). For a buyer, it can represent a lower property tax burden and a potential opportunity to add value through updates.
2. What does "above average" living area really mean for daily life?
With living space significantly larger than most comparable homes on the street and in Earl Grey, this home offers more flexibility. It could comfortably accommodate a home office, a larger family, or simply provide a more spacious feel than many other homes in its price range in the area.
3. How much of a concern is the older age (1910)?
It’s a key consideration. While it adds character, it also means systems (like plumbing, wiring, and the foundation) may need inspection and potential updating. The unrenovated basement is a direct result of its age. Buyers should budget for maintenance and seek appropriate inspections.
4. The lot is smaller than average. How limiting is this?
The yard space is certainly compact, ranking in the bottom 5% locally. This is ideal for those who prefer low-maintenance outdoor space or who prioritize indoor living area and location over a large garden. It may not suit those seeking extensive private outdoor recreation space.
5. There’s no garage. What are the parking options?
The property has no garage. Parking would be limited to on-street. This is a common feature in older neighbourhoods and is a practical consideration for vehicle owners, especially during Winnipeg winters.