Property Overview
743 Warsaw Avenue is a classic two-storey home in Winnipeg's established Earl Grey neighbourhood. Built in 1912, it offers 1,330 sqft of living space and sits on a 3,009 sqft lot. The home features a basement that is noted as being unrenovated and does not include a garage or pool. Its most recent recorded sale was in August 2017 for $270,000.
Key Characteristics & Appeal
This home’s primary appeal lies in its location within a desirable, central neighbourhood and its above-average interior space for the immediate area. The living area is in the top 25% compared to other homes on Warsaw Avenue, offering more room than many neighbouring properties. While the lot size is modest, it aligns with the character of older, inner-city communities. The assessed value is consistent with area averages, suggesting a stable, unpretentious investment.
Its character is that of a straightforward, century-old home that has not been extensively modernized. The unrenovated basement presents a blank canvas. This property would suit a practical buyer—perhaps a first-time homeowner, an investor, or a downsizer—who values location over luxury and is prepared for the realities and potential of an older home. It’s for someone comfortable with a property that offers solid fundamentals (space, neighbourhood) but may require updates over time. A less obvious perspective is that its very "averageness" in assessed value for Earl Grey could be a strength, indicating a lower risk of being overpriced relative to its community, while the larger-than-average living area provides immediate functional value.
Frequently Asked Questions
1. What does "basement, not renovated" typically mean for a home of this age?
It generally indicates the basement retains its original or very dated state, likely with older finishes, mechanical systems, and possibly limited moisture management. It should be inspected thoroughly but also represents potential for future expansion or customization.
2. How does the lack of a garage affect daily living and value in this area?
On-street parking is common in older neighbourhoods like Earl Grey. While a garage is a convenience, its absence is factored into the area's pricing and may not be a significant detriment to value for buyers seeking a character home in this location.
3. The home sold for $270k in 2017; how is the current assessed value determined?
The assessed value ($34.10k for the land and building) is for municipal tax purposes and is based on mass appraisal techniques and area sales. It is not a market valuation. A current market price would be determined by recent sales of similar, nearby properties.
4. The lot size is noted as "below average." Is outdoor space a major limitation here?
The lot is smaller than the city average but is typical for the central, established area. It provides a manageable yard space. Buyers seeking extensive gardens or large outdoor entertaining areas might find it limiting, while those looking for lower maintenance will appreciate it.
5. What are the implications of the home being "around average" in most metrics for the Earl Grey area?
This statistical averageness within a sought-after neighbourhood can be a positive. It suggests the property is firmly aligned with community norms, reducing the chance of overpaying for extravagant features or encountering unusual value discrepancies. It represents a stable, typical entry into the area.