Property Overview: 650 College Avenue, Winnipeg
Key Characteristics & Appeal
This two-storey home in the Inkster-Faraday neighbourhood presents a practical opportunity. Built in 1912, its key characteristic is above-average interior space for the immediate area, offering 1,439 sqft of living area, which ranks within the top 20% of homes on its street. This makes it a notably roomier option compared to many neighbouring properties. It features a detached garage and a basement that is present but not renovated.
The appeal lies in its value proposition as a spacious, established home in a mature neighbourhood, with a very modest property tax assessment. It suits buyers looking for a functional footprint without a premium price tag, particularly those who prioritize interior space over a large yard, as the land area is compact. A thoughtful perspective is that the home's lower assessed value, while indicating a lower tax burden, also reflects its age, the unrenovated basement, and its smaller lot size. It would be well-suited for a first-time buyer, an investor, or someone seeking a straightforward home with room to grow into, provided they are comfortable with the upkeep of a century-old structure and the potential for future updates.
Frequently Asked Questions
1. What does the assessed value tell me about this property?
The assessed value of $16,300 is significantly below the citywide average. This typically translates to lower annual property taxes, which is a financial advantage. However, it also generally reflects the home's age, the condition of certain features (like the unrenovated basement), and its smaller lot size compared to most of the city.
2. How does the living space compare to nearby homes?
The living area is a standout feature. At 1,439 sqft, it is larger than the average home on College Avenue and in the Inkster-Faraday neighbourhood. This means you're getting more interior room than many surrounding properties, which is a key consideration for growing families or those who need more space.
3. The home was built in 1912. What should I consider?
While the structure has proven its durability, a home of this age will likely have older building materials and systems. A thorough inspection is essential to understand the condition of the foundation, wiring, plumbing, and roof. The unrenovated basement also presents both a project and an opportunity for customization.
4. The land area seems small. Is that a concern?
At 2,276 sqft, the lot is compact, ranking in the bottom 5% on its street for size. This means minimal exterior maintenance and a smaller yard, which could be a positive for those seeking low upkeep. However, it also limits potential for expansions like large additions or extensive outdoor living spaces.
5. Can I find out the exact historical sale prices?
The listing service provides sold price ranges from public data. To obtain the exact sale price from its last transaction in March 2016, you must request it directly from the provided service, which will email you the precise figure.