Property Summary: 888 Warsaw Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1945, situated on a standard-sized lot in the established Earl Grey neighbourhood. Its primary appeal lies in value and location rather than size. With 901 square feet of living space, the home is notably smaller than area averages, positioning it as a more affordable entry point into a desirable community. A key feature is its renovated basement, adding functional space.
The home’s assessed value consistently ranks above average for Earl Grey, suggesting it is well-maintained and perceived favorably relative to its immediate peers. This creates a compelling proposition: a lower purchase price due to its modest footprint, but without a corresponding penalty in its official valuation. It suits first-time buyers, downsizers, or investors seeking a manageable property in a prime location without a large renovation project. The appeal is pragmatic—offering the benefits of the neighbourhood while acknowledging the home itself is a cozy, efficient space rather than a sprawling one.
Frequently Asked Questions
1. Is the smaller living area a significant drawback?
It depends on your needs. The home is in the top 80% for size on its own street, meaning most nearby houses are larger. This typically translates to a lower price, making it an accessible option. For a single person, couple, or someone downsizing, the layout may be efficient and sufficient.
2. How does the assessed value compare to the last sale price?
The home last sold in September 2019 for $32,700. Its current assessed value is $36,800, which is higher. This increase could reflect market changes, the renovated basement, or both, and indicates the property has held or grown in value in recent years.
3. What does the "above average" ranking for assessed value in Earl Grey mean?
While the home is smaller than average, its assessed value ranks in the top 22% for the neighbourhood (rank 269 out of 1239). This suggests that for its size and type, it is considered a higher-quality asset within Earl Grey, possibly due to updates, lot placement, or condition.
4. Is the lot size typical for the area?
Yes. The 3,718 sqft lot is above average for Earl Grey but below the city-wide average. It provides a standard urban yard for the neighbourhood, larger than many newer infill lots but not exceptionally so.
5. Are homes from 1945 a concern?
The year built (1945) is newer than the Earl Grey average, ranking in the top 25%. While any older home requires a thorough inspection for its specific condition, the structure itself is not unusually old for this well-regarded, mature area.