Property Overview
This 1912 two-and-a-half storey home on Machray Avenue presents a classic Winnipeg character property with practical potential. Its key appeal lies in a combination of generous space and a large lot for the neighbourhood, offered at an assessed value well below city averages. The home features 1,472 sqft of living space, which is notably above average for the Inkster-Faraday area, and sits on a nearly 5,000 sqft lot. It includes a detached garage and an unrenovated basement, indicating a property that has been maintained in a functional, original state rather than being fully updated.
This home would suit a specific type of buyer: a handy purchaser or an investor looking for a solid "bones" project in a neighbourhood where the land and living space already offer inherent value. It’s not a move-in-ready showpiece, but a canvas. The below-average assessed value, both on its street and city-wide, suggests an opportunity for equity building through renovations, making it a strategic buy for those willing to put in the work. Its charm is rooted in its practicality and potential, rather than in modern finishes.
Frequently Asked Questions
1. What does the assessed value tell me about the property taxes?
A lower assessed value generally correlates with lower property taxes compared to similar-sized homes in the city. However, any significant renovations or additions after purchase will likely trigger a reassessment and an increase in taxes.
2. The home is noted as having an unrenovated basement. What should I consider?
An unrenovated basement means the core systems (foundation, plumbing, electrical) are visible for inspection, which can be an advantage. However, it also means you should budget for potential updates to insulation, moisture control, and finishing to fully utilize the space, and factor in an inspection to assess its current condition.
3. How does the living area and lot size compare to the area?
The living space is in the top 7% for size within the Inkster-Faraday neighbourhood, offering more room than most local homes. The lot size is also in the top 12% for the area, providing ample outdoor space that is less common locally, though it is around the city-wide average.
4. The home was built in 1912. What are the implications?
A home of this age will have character but will also have aging components. Prospective buyers should prioritize a thorough inspection focusing on the foundation, original wiring, plumbing, and the roof. Its historic charm comes with the responsibility of ongoing maintenance typical for a century-old structure.
5. The last recorded sale was in 2016. Why is the exact price not listed?
To ensure accuracy and privacy, the exact sale price from public records is provided directly upon request. The displayed range ($18.5k - $21.5k for 2016) gives a historical benchmark, but requesting the precise figure ensures you have correct data for your valuation.