Property Overview: 817 Mulvey Avenue, Winnipeg
Key Characteristics & Appeal
This two-storey home, built in 1913, is a classic character property in the established Earl Grey neighbourhood. With 1,337 sqft of living space, it offers a practical floorplan that ranks above average for size on its own street. The lot is a standard city size at just over 3,000 sqft and includes a detached garage. A key point to note is that the basement exists but is noted as not renovated, indicating potential for future finishing or utility space as-is.
Its primary appeal lies in its location within a mature, tree-lined community and its position as a home with inherent character and solid square footage at a relatively accessible price point, as reflected in its below-average assessed value compared to both the street and the wider city. This creates an opportunity for a buyer seeking a foothold in a desirable area.
This property would best suit a pragmatic buyer who appreciates older homes and is comfortable with a property that may require updates over time. It’s a candidate for a first-time homeowner looking for more space than a starter home, or an investor seeking a character rental in a stable neighbourhood. The unrenovated basement and assessed value suggest it’s not a move-in-ready luxury property, but a solid foundation for a long-term home.
Frequently Asked Questions
1. What does "basement not renovated" typically mean?
It indicates the basement is in a functional, likely unfinished or partially finished state, common for homes of this era. Buyers should budget for potential updates to make it a fully livable space.
2. How does the assessed value relate to the likely selling price?
The assessed value is for municipal tax purposes and is often, but not always, lower than market value. In this case, its below-average assessment suggests a potentially lower purchase price relative to the area, but the final price will be set by the market.
3. Is the older year (1913) a concern?
It signifies character and established neighbourhood charm, but also means systems like plumbing, electrical, and the roof may be older or have been updated at various times. A thorough inspection is essential.
4. What are the advantages of a detached garage?
It provides flexible storage or workshop space separate from the house. However, it may require walking outside to access, which can be a consideration during Winnipeg winters.
5. The living area is above average for the street, but the value is below average. Why?
This can signal that the home’s condition or specific features (like the unrenovated basement) are keeping its taxable value lower, despite offering good square footage. It highlights the trade-off between space and modernization.