Property Overview: 564 Machray Avenue
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1944, is a classic Winnipeg property offering solid space and a generous lot. Its key appeal lies in its above-average living area (1,644 sq ft) and a notably large land area (5,547 sq ft) for the Inkster-Faraday neighbourhood, placing it in the top tier locally for both metrics. The home features a basement and a detached garage. While not recently renovated, it presents a straightforward opportunity for buyers comfortable with a home that has good bones but may require personalization.
The property’s value is grounded in its space and location. It suits practical buyers looking for room to grow, garden, or add value over time, without the premium price of a fully updated home. A thoughtful perspective is its relative standing: while its assessed value is above average for its immediate area, it is below the city-wide average, suggesting it could represent a more accessible entry point into a home of this size. It would particularly suit a hands-on buyer, an investor looking for a land-value play, or a family prioritizing interior and yard space over a modern, move-in-ready finish.
Section 2: Frequently Asked Questions
1. What is the exact sold price history?
The public data shows a sale in June 2016 for an estimated range. For precise historical sold prices, you can request the exact figures via email from the listing source, as this information is verified manually.
2. What does the "above average" and "top percentage" ranking mean?
These rankings compare this home to similar properties on three levels: its street, the wider Inkster-Faraday area, and city-wide Winnipeg. For example, its living area is in the top 4% locally, meaning it's significantly larger than most homes in the neighbourhood, which is a key point of value.
3. Is the basement finished?
The listing specifies the basement exists but is "not renovated." Buyers should anticipate an unfinished or partly finished space that may require work.
4. How does the assessed value relate to market price?
The assessed value for municipal tax purposes is $25,100. It's important to note this is not a market appraisal. The listing shows this value is above average for the neighbourhood but below the city-wide average, indicating a potentially more affordable property within its class.
5. What are the implications of the large lot size?
The 5,547 sq ft lot is significantly larger than the neighbourhood average. This not only allows for more private outdoor space but may also offer future potential, subject to local zoning, for additions, landscaping projects, or even subdivision.