Property Overview: 650 Machray Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1941, presents a practical opportunity in Winnipeg's Inkster-Faraday neighbourhood. Its key characteristics include 1,102 sqft of living space, a renovated basement, a detached garage, and a notably generous 5,142 sqft lot that ranks well above average for the immediate area.
The primary appeal lies in its solid value proposition and space. The home sits on a larger-than-typical lot for the neighbourhood, offering valuable outdoor space or future potential. With a recently renovated basement, it provides move-in-ready living space without a premium price tag, as reflected in its assessed value ranking highly within Inkster-Faraday. Its recent sale history suggests a steady, reasonable market value.
This property would suit first-time buyers seeking a character home with a sizeable yard, or practical investors looking for a stable rental property with modernized basics. It’s a home for those who prioritize land size and functional updates over a central location or new construction.
Section 2: Frequently Asked Questions
1. How does the property’s value compare to the area?
The home’s assessed value is in the top 9% for the Inkster-Faraday neighbourhood, meaning it is valued higher than most nearby homes. However, citywide, its assessment is below average, indicating it represents a more affordable entry point within Winnipeg overall.
2. What is the significance of the lot size?
At over 5,000 sqft, the lot is in the top 10% for the neighbourhood. This is a standout feature, offering more private outdoor space than most surrounding properties, which typically have lots under 4,000 sqft.
3. Is the home older than others nearby?
Built in 1941, it is actually newer than the average home on its street and in the neighbourhood, where many homes were built in the early 1930s. This is a less obvious advantage regarding the potential age of major components.
4. What can recent sale prices tell us?
The home sold in March 2023 for an estimated 28.5k-31.5k. This sale price ranked in the top 4% for the area at that time, strongly supporting the current above-average assessment for the neighbourhood.
5. How does the living space compare?
At 1,102 sqft, the living area is slightly below the average for the street but is actually above the average for the wider Inkster-Faraday area. It offers a moderately sized layout that is typical for the community.