Property Overview: 791 Lorette Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1948, presents a practical opportunity in the established Earl Grey neighbourhood. With 910 sqft of living space and a renovated basement, it offers functional living on a manageable 3,561 sqft lot. Its detached garage adds valuable utility.
The primary appeal lies in its position as a solid, no-fuss property within a desirable area. The home's assessed value and living area are consistently around the average for its immediate street and neighbourhood, suggesting it's a typical, well-priced entry point into the community. It suits first-time buyers or downsizers seeking a character home without the footprint or maintenance of a larger property. A thoughtful perspective is that its smaller lot and average metrics, while not standout, contribute to a lower property tax burden compared to many city-wide averages, offering long-term affordability. It’s a home for those who value location and community over sheer size.
Section 2: Frequently Asked Questions
1. How does this home compare to others in Earl Grey?
The data shows it's very typical for the area. Its living space is slightly below the neighbourhood average, but its assessed value and year built are right around the middle of the pack, indicating it's a representative, mid-range property for Earl Grey.
2. What is the significance of the renovated basement?
A finished basement in a home of this era and size effectively adds usable living or storage space, which is a valuable asset given the main floor's modest square footage. It's a key functional upgrade.
3. Is the lot size a drawback?
While below average for Lorette Avenue, the lot is actually above average for the Earl Grey neighbourhood as a whole. It represents a lower-maintenance yard, which could be seen as an advantage for buyers seeking a simpler outdoor space.
4. What can the 2016 sale price tell us?
The previous sale price provides historical context, but the current assessed value is the more relevant figure for understanding its municipal valuation today. The two figures together suggest steady, modest appreciation in line with area trends.
5. Who might this property not suit?
It may not fit buyers looking for a large, modern floor plan, extensive yard space, or a home that stands out statistically above neighbourhood averages. It’s a home of comfortable averages, not standout features.