Property Summary: 640 College Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1910, presents a classic Winnipeg character property with practical considerations. Its key characteristic is its modest, efficient scale: at 1,000 sqft of living space on a 2,276 sqft lot, it sits comfortably within the averages for its immediate Inkster-Faraday neighbourhood. This suggests a home that is manageable in size and likely aligned with typical area values, as reflected in its assessed value of $16,800.
The appeal lies in its position as an affordable entry point into the housing market, particularly for a stand-alone house with a detached garage. It suits first-time buyers, investors, or downsizers seeking a lower-maintenance footprint without condo fees. A thoughtful perspective is that its smaller lot size, while below average, translates to less exterior upkeep. The home’s age (116 years) indicates a need for due diligence on systems and structure, but it also represents a piece of local history with potential for someone interested in a straightforward, no-frills property that hasn’t been extensively renovated. The recent sale history shows stable value in its range, suggesting a predictable, grounded investment in a well-established community.
Section 2: Frequently Asked Questions
1. Is the basement finished?
No, the basement is noted as "not renovated," meaning it is likely in an unfinished or utility state.
2. How does the property compare to others in the area?
For living space and assessed value, it ranks around the middle compared to homes on its street and in the wider Inkster-Faraday neighbourhood. Its lot size is notably smaller than area averages.
3. What is the significance of the assessed value being so much lower than the citywide average?
The citywide average assessed value is skewed by including all property types, including newer and much larger homes across Winnipeg. The assessed value of $16,800 is directly comparable to similar, modest homes in this specific area, as shown in the "Same area" rankings.
4. Has the property sold recently?
Available data indicates it sold in October 2020 and previously in June 2016. The exact sale prices are not publicly listed but can be requested from the site.
5. What are the potential considerations due to the home's age?
Built in 1910, prospective buyers should budget for and investigate the condition of major aging components, such as the roof, plumbing, electrical wiring, and foundation, which may require updates or repairs.