Property Overview: 624 College Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, one-and-a-half storey home built in 1948, offering a modest 776 square feet of living space on a smaller urban lot. Its key appeal lies in its position as an accessible entry point into the Winnipeg market, with a very low assessed value that suggests an affordable purchase price and corresponding property taxes. The home is notably newer than many in the immediate Inkster-Faraday area, which can be an advantage for maintenance and systems.
It suits first-time buyers, investors, or downsizers seeking minimal footprint and low carrying costs. The appeal is pragmatic: it’s a straightforward property for those prioritizing financial accessibility over space. A thoughtful perspective is that its smaller scale and lot size translate to less upkeep and lower utility costs, which can be a significant long-term benefit. The unrenovated basement presents a clear, if not immediate, opportunity for added utility or storage.
Frequently Asked Questions
1. Is this a "tear-down" or a livable home?
While the living area is below average for the city, the home is structurally sound and was occupied as recently as 2024. It is likely livable but may require updates, making it suitable for someone comfortable with a gradual renovation.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's smaller size, older age, and specific local market conditions in the Inkster-Faraday area. It is aligned with values for similar compact homes in Winnipeg.
3. What does "one-and-a-half storey" mean for this house?
This style typically features a main floor with living areas and a second floor under sloped ceilings, often containing bedrooms. It maximizes space efficiently in a smaller footprint.
4. How does the lot size affect potential for expansion or adding a garage?
The lot is smaller than most in the neighbourhood, which may limit options for significant additions or a detached garage. Any expansion plans would require careful review of zoning bylaws and setback requirements.
5. The sold price history shows a range. What factors influence the final price?
The final sold price is influenced by the home's condition, market demand at the time of sale, and specific terms of the sale. For the exact historical sold price, you can request the information via email from the source.