Property Overview: 784 Scotland Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home in Earl Grey presents a specific and compelling value proposition. Its key characteristic is a well-sized, renovated living space of 1,470 sqft, which is notably above average for both the immediate street and the Earl Grey neighbourhood. This is paired with a significantly below-average assessed value, creating a standout value-per-square-foot scenario. The home is from 1976, making it newer than many area houses, and the basement has been renovated.
The primary appeal lies in this balance: it offers ample, modernized interior space in a desirable neighbourhood at an accessible entry point. The trade-off is a smaller land area (2,238 sqft), which means a more compact yard but also less exterior maintenance.
This property would suit practical, value-conscious buyers—such as young families, professionals, or downsizers—who prioritize indoor living space and modern updates over a large garden. It’s ideal for someone seeking a move-in-ready home in a central community without paying a premium for land they may not fully utilize. A less obvious perspective is that the lower assessed value, while attractive for taxes, may also indicate a potential opportunity for value growth through future market adjustments or strategic improvements.
Section 2: Frequently Asked Questions
1. What does the "below average" assessed value actually mean for me?
It primarily suggests your property taxes will be relatively lower compared to homes with similar living space in the area. It reflects the city's assessment formula, which heavily weighs land value. The smaller lot size here results in this lower assessment.
2. Is the smaller lot size a major drawback?
That depends on your lifestyle. It means a more modest backyard, which reduces maintenance time and costs. For buyers who prefer spending their weekends in parks or on nearby amenities rather than on yard work, this can be a practical benefit.
3. How does the 1976 build year compare to the neighbourhood?
Earl Grey has many heritage homes dating back to the early 1900s. Built in 1976, this home is significantly newer than the neighbourhood average, which often means fewer concerns related to aging infrastructure like original plumbing or wiring found in century-old homes.
4. The home sold in 2021. What can that price tell me?
The 2021 sale price provides a historical benchmark, but it reflects pre-pandemic market conditions. It’s most useful for understanding the owner’s purchase point, not the current market value. A professional appraisal or comparative market analysis is necessary for today's value.
5. Are the renovations in the basement legal and permitted?
The listing states the basement is renovated but does not specify if it is a legal suite or if permits were obtained. This is a critical question to direct to the selling agent and to verify with a review of municipal records during the due diligence period.