Property Overview
This one-storey home at 791 Scotland Avenue in Winnipeg's Earl Grey neighbourhood presents a specific and compelling opportunity. Its primary appeal lies in a significant, above-average lot size within a well-established area, paired with a recently renovated basement. The home itself, at 988 sqft, is more compact than many in the area, suggesting a property where the land value is a substantial component of its worth. It would particularly suit a first-time buyer or downsizer looking for a manageable footprint without sacrificing outdoor space, or an investor/renovator who sees potential in the generous lot. The 1955 build date indicates a mature home that may require updates, but its assessed value ranks highly for the street and neighbourhood, pointing to solid underlying value.
Key Details & Context
- Style & Size: A 988 sqft, one-storey house with a detached garage.
- Lot: A standout feature at nearly 5,000 sqft, ranking in the top 5% for Earl Grey.
- Condition: The basement has been renovated.
- Value Position: Its assessed value is above average for the immediate area, but the living space is below average, highlighting the lot premium.
- History: Last sold in December 2019 for $29,400.
Frequently Asked Questions
1. Is the house in move-in condition?
While the basement has been renovated, the main living area of the 71-year-old home may require modernization. Buyers should budget for potential updates to kitchens, bathrooms, or systems.
2. Why is the assessed value higher than many nearby homes?
The assessment likely reflects the combined value of the renovated basement and, most significantly, the large lot size. On Scotland Avenue, this property's assessed value ranks in the top 25%.
3. What can you do with such a large lot?
The nearly 5,000 sqft lot offers excellent potential for gardening, outdoor living, and private space rare for the area. It also provides future flexibility for additions or landscaping projects that a standard lot would not.
4. How does the 2019 sale price relate to today's value?
The 2019 sale price of $29,400 is a historical point and not indicative of current market value. The much higher assessed value and market conditions since then suggest a significant appreciation.
5. Who typically buys in Earl Grey?
Earl Grey is a mature, central neighbourhood popular with a mix of long-time residents, families attracted to its character and amenities, and buyers seeking a established community close to downtown.