Property Overview: 773 Fleet Avenue, Earl Grey, Winnipeg
Section 1: Key Characteristics & Appeal
This is a classic two-storey home built in 1914, offering 1,280 sqft of living space. Its key characteristic is a clear value proposition within its desirable Earl Grey neighbourhood. The home sits on a modest 2,500 sqft lot and features an unrenovated basement. There is no garage or pool.
The primary appeal lies in its location and relative size. For Earl Grey, the living space is above average, providing more room than many neighbouring homes. However, its assessed value is notably below average for the street, neighbourhood, and city, suggesting it may be priced accessibly for the area. This creates an opportunity for buyers seeking entry into a well-regarded community, willing to take on a home that likely requires updates or personalization. It would suit a first-time buyer, an investor, or a handy homeowner looking to add value through renovations over time. A less obvious perspective is that the compact lot size, while below area averages, translates to lower maintenance—a potential draw for those seeking the neighbourhood character without extensive yard work.
Section 2: Frequently Asked Questions
1. What does "below average assessed value" actually indicate?
It means the city's assessment for this property is lower than most comparable homes nearby. This often reflects the home's condition, specific features, or the unrenovated state of the basement, not necessarily the market price. It can sometimes indicate a lower property tax base.
2. Is the living space a good size for the area?
Yes. At 1,280 sqft, the living area is larger than the average home on Fleet Avenue and in the Earl Grey neighbourhood, which is a significant positive for this property.
3. What should I know about a home built in 1914?
While full of character, it is essential to have thorough inspections for foundational integrity, plumbing, electrical systems (which may need updating), and insulation. The unrenovated basement should be checked for moisture and structural issues.
4. How does the lack of a garage affect daily life and value?
On-street parking is the norm here. For some buyers, this is a drawback; for others, it's a trade-off for the neighbourhood. It is a factor that contributes to the accessible price point and is typical for many older homes in central Winnipeg.
5. The home sold recently in August 2022. What does that mean?
The previous sale provides a very recent market price benchmark (the sold price is indicated as $185,000). This offers a transparent data point for understanding current value trends and the property's potential resale activity.