Property Overview: 864 Warsaw Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home in the established Earl Grey neighbourhood presents a classic Winnipeg character property built in 1914. Its key appeal lies in its solid, above-average assessed value relative to its immediate area, suggesting strong underlying value and desirability for the street and neighbourhood. With 1,310 sqft of living space, it offers more room than many comparable homes nearby. The property features a basement (not renovated) and sits on a modest, manageable lot.
This home would suit a value-conscious buyer looking for a character home in a central neighbourhood without a massive yard to maintain. It’s ideal for someone who sees potential in a solid structure and appreciates the stability indicated by its consistently strong assessed value rankings. A thoughtful perspective is that the smaller lot, while below average city-wide, could be a practical advantage for those seeking lower maintenance, making the character and interior space the primary focuses. The recent sale in late 2023 also indicates a clear, modern market valuation.
Section 2: Frequently Asked Questions
1. What does the "above average" assessed value really mean?
It means the city’s assessment for this home is higher than over 90% of similar properties on its street and in Earl Grey. This typically reflects the property's perceived market value and desirability within its immediate context, not necessarily a high city-wide price tag.
2. Is the smaller lot size a concern?
While the land area is below the city average, it is around average for the Earl Grey area. This translates to less yard maintenance, which can be a benefit for many buyers, though it may limit expansion possibilities.
3. The home is 110 years old. What should I consider?
While the structure is historic, the systems (plumbing, electrical, roof) and the unrenovated basement will be key points for inspection. Its age is typical for the core of the Earl Grey neighbourhood.
4. How does the recent 2023 sale price relate to the assessed value?
The home sold for $41,800 in December 2023, which is very close to its current $43,200 assessment. This close alignment suggests the assessment is grounded in a recent, fair market transaction.
5. Who might this property not suit?
It may not be ideal for buyers seeking a move-in-ready home with a finished basement, those wanting extensive yard space, or anyone hesitant about the potential upkeep and updates common with a century-old home.