Property Overview: 695 Ebby Avenue
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1947, presents a solid opportunity in Winnipeg's Ebby-Wentworth neighbourhood. Its primary appeal lies in its well-proportioned space and lot size relative to the immediate area. With 1,071 sqft of living area, the home is notably above average for both its street and neighbourhood, offering more interior space than many local comparables. The 4,123 sqft lot is also a standout, ranking in the top 21% within Ebby-Wentworth, providing valuable outdoor space that is less common in the city core.
The home suits practical buyers looking for a character property with established roots. It’s ideal for a first-time homeowner who values a generous lot and more interior square footage over a newer build, or for an investor recognizing the value of land in a mature neighbourhood. The data suggests a property that holds its own very well on its street and in its community, even if its assessed value is modest by wider city standards. A thoughtful perspective is that this home represents the "bones" of the neighbourhood—a property whose value is anchored in its desirable local positioning and lot size, offering a canvas for modernization while already providing above-average space for the area.
Frequently Asked Questions
1. How does this home compare in size to others nearby?
At 1,071 sqft, the living area is larger than the average home on Ebby Avenue (943 sqft) and in the Ebby-Wentworth neighbourhood (1,022 sqft). It offers more interior space than roughly 70-77% of comparable properties in the immediate vicinity.
2. What is the significance of the lot size?
The land area of 4,123 sqft is a key feature. It's significantly larger than the neighbourhood average (3,584 sqft), placing it in the top 21% locally. This means more private outdoor space than most homes in the area.
3. The assessed value seems low. What does this indicate?
The assessed value is around the neighbourhood average but below the city-wide average. This is typical for older homes in established core neighbourhoods compared to newer suburbs. It can translate to relatively lower property taxes, which is an important ongoing cost consideration.
4. The home sold for $300k in 2022, but the assessed value is much lower. Why?
Assessed value for tax purposes and market sale price are determined differently. The 2022 sale price reflects what a buyer was willing to pay in the open market at that time, while the assessment is an estimate of value for taxation, often based on older data and mass appraisal techniques.
5. What should I consider about the home's age?
Built in 1947, the home is older than the Winnipeg city average. This typically means potential for classic architectural charm but also necessitates a thorough inspection of major aging components like the roof, wiring, plumbing, and foundation to understand any needed updates or maintenance.