Property Overview
This one-storey home at 777 Lorette Avenue in Winnipeg's Earl Grey neighbourhood presents a specific and practical opportunity. Its key characteristic is its compact size, with a living area of 648 sqft, which is notably smaller than most homes on the street, in the area, and city-wide. The home sits on a modest 2,532 sqft lot and was built in 1962, making it newer than many of its immediate neighbours. It features a renovated basement and a detached garage. The assessed value is positioned around the average for Earl Grey.
The appeal lies in its efficiency and manageability. This is not a sprawling family home but a grounded, low-maintenance property. It would suit a first-time buyer seeking an entry point into a established neighbourhood, a downsizer looking to simplify without leaving the community, or an investor seeking a practical rental property. A thoughtful perspective is that its smaller scale can mean lower utility costs and less time spent on upkeep, offering a lifestyle of convenience rather than grandeur. Its "newer" vintage relative to the area suggests potentially fewer immediate major repairs than with a century-old home.
Frequently Asked Questions
1. Is the house too small?
At 648 sqft of living space, it is significantly smaller than the neighbourhood average. The layout and the renovated basement will be crucial factors in determining if the space meets your needs. It is ideal for those who prioritize efficient living over ample square footage.
2. How does the assessed value compare?
The assessed value of $28,600 is around the average for the Earl Grey neighbourhood. This suggests the property is valued in line with local norms, despite its smaller size, which may be attributed to its lot location, condition, and the renovated basement.
3. What does the lot size mean for me?
The lot is 2,532 sqft, which is below average for the street and area. This translates to a smaller yard, which means less outdoor maintenance but also less private outdoor space for gardening or recreation.
4. The home was built in 1962. What should I consider?
While built in 1962 (newer than many area homes), it is still over 60 years old. A thorough inspection is essential to assess the condition of major systems like plumbing, electrical, and the roof, which may be due for updates or replacement.
5. Are the property taxes likely to be high?
Property taxes are based on the assessed value. Since this home's assessment is around the neighbourhood average, the taxes should be reasonably predictable and comparable to other typical homes in Earl Grey, not disproportionately high.