Property Overview
This one-and-a-half storey home at 849 Carter Avenue in Winnipeg's Ebby-Wentworth neighbourhood presents a distinct opportunity. Built in 1909, it is a character property with a 1,120 sqft living area, an unrenovated basement, and no garage. Its key appeal lies in its position as a genuine fixer-upper or investment prospect in a mature area. The home last sold in May 2023 for $190k, while its current assessed value is notably low at $18,800, reflecting its need for modernization.
Key Characteristics & Buyer Profile
The primary characteristic of this property is its value as a canvas. Its living space is above average for its immediate street and area, offering good square footage to work with on a standard 3,170 sqft lot. However, its age, condition, and extremely low assessed value clearly signal that significant investment is required. The appeal is not in move-in readiness, but in potential—whether for equity building through renovation, as a hold for land value in a transitioning area, or for an investor comfortable with a project.
This home would suit a specific type of buyer: hands-on renovators looking for a structural shell to personalize, value-focused investors who see beyond current condition, or buyers prioritizing lot location over the state of the existing structure. It is less suited to anyone seeking a turnkey home or who is unable to manage a substantial rehabilitation project.
Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sale price?
Municipal assessments are often based on mass appraisal models and may lag behind market sales, especially for unique properties. A very low assessment typically reflects the home's outdated condition and systems rather than its potential market value, which was demonstrated by its 2023 sale.
2. What does "one-and-a-half storey" mean for this older home?
This style often features a main floor with principal rooms and a second floor under sloped roof lines, creating cozy bedrooms with potentially lower ceilings. For a 1909 home, this adds character but may also mean original layouts and a need for updates to insulation, wiring, and plumbing.
3. Are there any major concerns with a house built in 1909?
Prospective buyers must budget for and investigate age-related issues. This includes the potential for knob-and-tube wiring, old plumbing (like galvanized steel pipes), insufficient insulation, and foundation wear. A thorough, specialized inspection is essential.
4. The home lacks a garage. Is adding one feasible?
The lot is a standard city size. Adding a garage would require checking current zoning bylaws for setbacks and coverage limits, and would consume a significant portion of the backyard. Off-street parking may be limited to a driveway.
5. How does the unrenovated basement affect living space and value?
An unrenovated basement in a home of this age is typically for utilities and storage only. Finishing it would add cost but could significantly increase functional living area. It’s crucial to check for moisture issues, ceiling height, and the condition of the foundation before planning any renovation.