Property Summary: 581 Machray Avenue, Winnipeg
Section 1: Overview & Appeal
This two-storey home on Machray Avenue in the Inkster-Faraday neighbourhood presents a practical opportunity with distinct characteristics. Its key appeal lies in offering above-average interior space for its immediate area. With 1,474 sqft of living area, it ranks in the top 30% for size on its own street and the top 7% within Inkster-Faraday, making it a notably spacious option compared to many nearby homes.
The property sits on a 4,039 sqft lot and includes a detached garage. A significant point to note is the home's age; built in 1913, it is a century-old property with a basement that is noted as not being renovated. This suggests buyers should be prepared for the potential maintenance and updating typical of a home of this vintage. The assessed value is positioned around the average for the street but is above average for the wider neighbourhood.
This home would best suit a buyer who values character and space over modern finishes, possibly a handy owner comfortable with gradual improvements or an investor looking for a solid, spacious rental property in the area. Its above-average size for the neighbourhood offers a relative value for those needing room, provided they are mindful of the upkeep associated with its age.
Section 2: Frequently Asked Questions
1. What does "basement not renovated" typically imply?
For a home built in 1913, this usually indicates original or aged foundations, flooring, electrical, and plumbing in the basement. It may be functional but likely lacks modern finishing and could require attention for moisture control, insulation, or updating.
2. How does the sold price history help me?
The data shows it last sold in February 2022 for an estimated range of $24.5k to $27.5k. This provides a very recent benchmark for its market value, which can be a starting point for understanding current price trends, though market conditions may have shifted.
3. The living area is above average for the neighbourhood, but the assessed value is only slightly above average for the street. Why might that be?
This discrepancy often reflects the home's age and condition. While it offers more square footage, factors like the older building, an unrenovated basement, and potential outdated systems can moderate its assessed value compared to newer or updated homes of similar size.
4. What are the practical considerations of a detached garage?
A detached garage offers flexibility and separates workshop noise or fumes from the house. However, it requires a separate foundation and roof maintenance, and accessing it in winter means going outside.
5. The home is older than most in Winnipeg. What should I prioritize in an inspection?
Beyond standard checks, for a 1913 home, special attention should be paid to the foundation integrity, the state of original plumbing and wiring, the roof's age and condition, and evidence of past insulation or moisture management in the basement and walls.