Property Overview: 652 College Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This two-and-a-half storey home, built in 1914, presents a classic character property with practical considerations. Its key appeal lies in its above-average living space (1,274 sq ft) for both the immediate street and the Inkster-Faraday neighbourhood, offering more room than many comparable homes in the area. The assessed value is consistent with local norms, suggesting a property priced in line with its community rather than city-wide averages, which can be an advantage for buyers seeking value within a specific, established area.
The home would suit a buyer who appreciates the charm and solid construction of an early 20th-century house and is prepared for the maintenance or updates that come with it. It’s a practical fit for first-time homeowners or small families looking for space in a neighbourhood setting, especially those who prioritize interior square footage over a large yard, as the land area is notably compact. A thoughtful perspective for this property is viewing it as a "neighbourhood anchor"—its value and characteristics are deeply aligned with its immediate surroundings, making it a stable, predictable investment within that specific market context, rather than a standout city-wide.
Section 2: Frequently Asked Questions
1. What should I know about a house built in 1914?
Expect character features like original woodwork or layout, but also consider the potential need for updates to electrical, plumbing, or insulation. A thorough inspection is essential to understand the condition of the century-old structure.
2. The land size seems small. How does this impact the property?
The lot is significantly smaller than area averages. This means lower exterior maintenance but also limited potential for expansions like a large addition, garage, or extensive landscaping. It emphasizes the value being in the home itself.
3. How does the assessed value compare to the likely selling price?
The assessed value for municipal taxes ($18.7k) is not a market price. Recent sold price data (Nov 2020: $17.5k-$20.5k) and current local market conditions are the true guides. The assessment indicates it is not an outlier in the neighbourhood.
4. Is the basement finished?
The listing notes a basement exists but that it is "not renovated." This typically means it is in an unfinished or utility state, offering storage and mechanical space but not livable square footage.
5. What are the comparable homes nearby?
Similar homes on the same street (e.g., 714 College Ave) and with similar assessed values in other neighbourhoods are provided for context. This helps gauge how this property fits within its price and type segment locally.