805 Warsaw Avenue

Property Overview: 805 Warsaw Avenue, Earl Grey, Winnipeg

Key Characteristics & Buyer Profile

This is a classic two-storey home built in 1911, offering 1,072 sqft of living space on a 3,012 sqft lot in the established Earl Grey neighbourhood. Its key appeal lies in its position as a relatively affordable entry point into a desirable area. The home presents a straightforward value proposition: you are purchasing location and lot potential, not a renovated finish. The living space is modest but in line with area averages, and the 2023 sale price was notably below its current assessed value, which may indicate room for equity growth. The basement exists but is noted as not renovated, and the property has no garage or pool.

This home would suit a practical first-time buyer or an investor comfortable with a property that requires updates. It’s for someone who values the character and stability of an older neighbourhood like Earl Grey over modern amenities and is prepared to invest sweat equity or capital over time. A thoughtful perspective is that its "below average" rankings for year built and assessed value on its street aren't just negatives—they clearly signal a more affordable option on a street where many homes may be more updated and expensive, offering a specific financial advantage for the right buyer.

Frequently Asked Questions

1. What does "basement, not renovated" typically mean for a home of this age?
It generally indicates an unfinished or partially finished basement with original foundations and mechanicals. Buyers should budget for potential updates to insulation, flooring, and moisture management, and should prioritize a thorough inspection.

2. How significant is the lack of a garage?
For this area and era of home, it's common. Buyers will rely on street parking. This can be a practical trade-off for the lower price point and should be factored into lifestyle considerations.

3. The home sold for $230k in 2023 but is now assessed at $260k. What does this suggest?
The assessed value is for taxation purposes and can lag behind market trends. The 2023 sale price is a concrete data point. The increase in assessment could reflect broader market movements or city valuation adjustments, not necessarily a specific renovation. It highlights the importance of using recent sales comparisons, not just assessment, to determine current market value.

4. Is the land size a limitation?
At just over 3,000 sqft, the lot is smaller than many in the city but is fairly typical for inner-core neighbourhoods like Earl Grey. It provides adequate outdoor space for a garden or patio but not for extensive additions. The size is a feature of the neighbourhood's character.

5. Who is the "comparable group" used in these rankings?
The comparisons are thoughtfully broken down into three tiers: other homes on Warsaw Avenue, homes in the broader Earl Grey neighbourhood, and homes city-wide. This shows how the property stacks up in its immediate context versus the wider market, with the street-level comparison often being the most relevant for value.