Property Overview
829 Lorette Avenue is a compact, one-storey home in Winnipeg's Earl Grey neighbourhood. Built in 1947, it features a renovated basement and sits on a standard city lot. The home's living space of 700 sq ft is notably smaller than most comparable properties in the area and citywide. Its assessed value is modest relative to the broader market but is competitive within its immediate neighbourhood. The property last sold in June 2020.
Key Characteristics & Appeal
This home’s primary appeal lies in its position as an attainable entry point into the established Earl Grey area. It suits first-time buyers, downsizers, or investors seeking a lower-maintenance property with renovation potential, particularly given the basement is already updated. The lot size is generous for the neighbourhood, offering valuable outdoor space relative to the home's footprint.
A less obvious perspective is its statistical positioning: while the house is smaller and older than city averages, it ranks more favorably within Earl Grey itself for lot size and year built. This suggests it aligns well with the character of the local streetscape. The appeal is pragmatic—it’s for a buyer who values location and land over square footage, seeing the compact main floor as a canvas for efficient living or future expansion.
Frequently Asked Questions
1. How does the size of this home compare to others nearby?
At 700 sq ft, the living area is below average for Lorette Avenue and significantly smaller than the typical Earl Grey or Winnipeg home. This indicates a more compact, efficient layout.
2. What does the assessed value tell us about the property?
The assessed value is around the neighbourhood average but below the city average. This often reflects the home's smaller size and age, suggesting a price point that is competitive within this desirable area.
3. Is the lot a good size?
Yes. The land area is above average for Earl Grey, meaning you get more outdoor space than many neighbouring properties, which is a valuable asset in a mature neighbourhood.
4. The home was built in 1947. What should I consider?
While the basement has been renovated, a home of this age will likely have original elements elsewhere. Prospective buyers should budget for updates to major aging components like plumbing, electrical, or the roof, and consider an inspection a priority.
5. Are there any recent comparable sales?
The provided data shows a sale on the same street in June 2020. For current market comparisons, it's essential to review recently sold properties in Earl Grey with similar lot sizes and assessed values, as square footage here is an outlier.