Property Overview: 640 Machray Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1942, presents a practical opportunity in the Inkster-Faraday neighbourhood. Its key appeal lies in its generous, above-average lot size—ranking in the top 4% for land area within the local area—offering valuable outdoor space that is increasingly rare. The home itself features a renovated basement and a detached garage, with living space that is comfortably average for the immediate street and city.
The property suits two primary types of buyers. First, it’s a solid entry point for first-time homeowners or practical investors seeking a character home with a sizable yard without a premium price tag, as reflected in its below-average citywide assessed value. Second, it appeals to those who value lot potential over sheer interior size; the land itself is a standout feature for the neighbourhood, offering room for gardening, expansion, or future development. Its assessed value is notably strong for the Inkster-Faraday area (top 15%), suggesting it is viewed as a well-placed asset within the community context.
Section 2: Frequently Asked Questions
1. How does the property’s value compare to nearby sales?
Based on available data, a comparable home on the same street sold in 2017 for between $215,000 and $245,000. The current assessed value is $246,000, which is above average for the Inkster-Faraday area but below the wider Winnipeg average.
2. Is the house smaller than others in the area?
Not exactly. At 1,172 sqft, the living area is slightly below the average for Machray Avenue itself but is actually above the average for homes in the broader Inkster-Faraday neighbourhood.
3. What does the “Elite” ranking for land area mean?
This indicates the 5,935 sqft lot is significantly larger than most in the local area. It ranks in the top 4% of similar properties in Inkster-Faraday, making the yard a defining feature of this property.
4. Given its age, will it need major updates?
The home is 84 years old, which is around average for its street and neighbourhood. The listing notes a renovated basement, but the condition of major systems (roof, wiring, plumbing) and the main floors should be verified through a professional inspection, as is prudent with any home of this vintage.
5. Why is the citywide assessed value ranking lower?
The assessed value is below the Winnipeg city average because property values in this neighbourhood are generally more affordable. However, within Inkster-Faraday itself, this home’s assessment is in the top 15%, indicating it is considered a higher-value property for the area.