Property Overview: 725 Fleet Avenue, Earl Grey, Winnipeg
Section 1: Key Characteristics & Appeal
This two-and-a-half storey home, built in 1913, presents a classic character property in the established Earl Grey neighbourhood. Its key appeal lies in a generous 1,555 sqft of living space, which ranks well above average for both the street and the area, offering more room than many comparable homes. The property features a detached garage and a full, unrenovated basement.
The home’s standout characteristic is its efficient use of a smaller, 2,296 sqft lot. While the land area is notably compact, this translates to less exterior maintenance—a significant consideration for buyers seeking character without the burden of a large yard. The assessed value is consistent with area averages, suggesting a stable, mid-market entry point into the neighbourhood.
This property would best suit a practical buyer who values interior space over land size. It’s ideal for someone drawn to the charm and location of an older home but who is either comfortable with a basement in its original state or sees it as a blank canvas for future projects. It represents an opportunity to own a spacious, classic home in a central neighbourhood without a premium lot size, potentially freeing up budget for interior updates.
Section 2: Frequently Asked Questions
1. What does "above average" living area actually mean for daily life?
It means the home offers more interior square footage than most similar properties on the street and in Earl Grey. You’re getting a notably roomier floor plan than the typical home in this market segment.
2. The lot size is listed as "below average." How significant is this?
The lot is compact, ranking in the bottom 3% on the street. In practice, this means a very manageable yard but limited private outdoor space. The trade-off is less maintenance and a focus on the home's interior and neighbourhood amenities.
3. The basement is noted as "not renovated." What should I expect?
Expect a functional, utilitarian space typical of a 1913 home. It likely has original foundations, flooring, and mechanical systems. It provides storage and utility space but will require investment to modernize into finished living area.
4. How does the 1913 build year affect the property?
It places the home among the older ones in the city. Buyers should prioritize a thorough inspection for century-home considerations like foundation, wiring, and plumbing, but also appreciate the architectural character that era often provides.
5. The home sold for $430k in 2022, but the assessed value is much lower. Why?
Assessed value for property tax purposes is a municipal calculation and often lags behind market value. The 2022 sale price is a more current indicator of its market worth, reflecting what a buyer recently paid for the home and its location.