Property Overview
This two-storey home at 769 Fleet Avenue in Winnipeg's Earl Grey neighbourhood presents a classic, no-frills opportunity. Built in 1914, it offers 1,120 sqft of living space and sits on a 2,723 sqft lot. The home features a basement that is noted as being unrenovated and does not include a garage or pool. Its assessed value is significantly below the city-wide average, reflecting its vintage and condition. The appeal here lies in its position as a straightforward, entry-level property in a well-established central neighbourhood. It suits first-time buyers, practical investors looking for a rental property, or handy purchasers who see potential in a home that hasn't been modernized. A less obvious perspective is its appeal to those seeking a lower fixed cost base; the modest lot size and assessed value can translate to manageable property taxes and upkeep expenses compared to larger, newer homes. It’s a property for those valuing location and fundamentals over turn-key finishes.
Frequently Asked Questions
1. What is the true condition of the basement?
The listing explicitly states the basement is "not renovated." Buyers should anticipate it needing work, which could range from basic cosmetic updates to addressing more foundational moisture or insulation issues. A thorough inspection is essential.
2. How does the assessed value compare to likely market price?
The home's assessed value is notably low compared to city-wide averages. In markets like Winnipeg, assessed value for tax purposes often lags behind market value, especially for older homes. The recent 2021 sale price of $259,000 is a more relevant benchmark for current market expectations.
3. What are the implications of not having a garage?
The lack of a garage means relying on on-street parking, which requires consideration of local parking permits, winter parking bans, and general availability. It also means all storage and workshop space must be accommodated within the house or a potential shed.
4. Is the smaller lot size a disadvantage?
While the lot is below average in size for the city, it is around average for the Earl Grey area. This can be an advantage for those seeking lower maintenance outdoor space. However, it may limit options for future expansions like large additions or detached garages, depending on zoning bylaws.
5. What is the neighbourhood character of this part of Earl Grey?
Earl Grey is a mature, established neighbourhood. This specific street, with homes dating from the early 1900s, offers a quiet, residential feel with the convenience of being centrally located. Proximity to nearby properties with similar values suggests a consistent, modest streetscape rather than one with highly renovated, upscale homes.