Property Overview: 870 Fleet Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home in Earl Grey, built in 1914, presents a classic character property with modern updates, most notably a renovated basement. Its 1,432 sqft of living space is notably above average for both its immediate street and the Earl Grey neighbourhood, offering more room than many comparable homes. The property includes an attached garage and sits on a 2,624 sqft lot.
The primary appeal lies in its combination of established neighbourhood charm, generous interior space for its local context, and the value-added renovation. The significantly below-average assessed value, both locally and city-wide, suggests a potential value opportunity for buyers, possibly due to its older age or the specific market dynamics of character homes. This home would suit a buyer looking for a well-sized character home in a mature neighbourhood without taking on a full renovation project, as key work on the basement is already complete. It's a practical choice for those who prioritize interior space over a large yard, as the lot size is compact relative to city averages.
Section 2: Frequently Asked Questions
1. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal secondary suite. Buyers should verify its compliance with local zoning and building codes with the city and their inspector if rental income is a goal.
2. Why is the assessed value so much lower than the city-wide average?
Assessed value is for municipal tax purposes and is influenced by many factors, including home age, specific location, and recent sales of similar properties. A lower assessment doesn't necessarily indicate a problem but can reflect the valuation of older character homes versus newer builds. It's essential to compare it to recent sale prices of similar homes in Earl Grey.
3. What are the implications of the home being built in 1914?
While offering classic charm, a home of this age may have older building materials and systems. A thorough inspection is crucial to understand the condition of the foundation, plumbing, electrical wiring, and insulation. The updated basement is a positive, but the main structure is over a century old.
4. How does the lot size impact the property?
The lot is smaller than most in Winnipeg, which means lower maintenance but also limited space for expansions, large decks, or extensive landscaping. It aligns with the more compact lot sizes typical of many established inner-city neighbourhoods.
5. What is the neighbourhood of Earl Grey like?
Earl Grey is a mature, established neighbourhood near the Corydon Avenue area, known for its tree-lined streets, character homes, and community feel. It offers convenient access to local shops, restaurants, and schools, appealing to those seeking a central location without being in the downtown core.