Property Overview: 685 Anderson Avenue, Winnipeg
This one-and-a-half storey home, built in 1927, presents a practical opportunity in Winnipeg's Inkster-Faraday neighbourhood. With 959 sqft of living space and a full, unrenovated basement on a 4,188 sqft lot, it is a home that emphasizes location and land over modern finishes. Its most recent sale price ranged between $15.5k and $18.5k in late 2024, aligning closely with its assessed value of $18.10k.
Key Characteristics & Buyer Appeal
The primary appeal of this property lies in its position as a land-value proposition with established neighbourhood character. It is not a move-in-ready showhome, but a foundational asset. Key characteristics show it is consistently around average for its immediate street and area in terms of living space, assessed value, and age, but its lot size is notably above average for the Inkster-Faraday area. This suggests a better-than-typical outdoor space for the locale.
It would suit a specific type of buyer: an investor looking for a long-term hold, a hands-on owner planning a gradual, sweat-equity renovation, or someone seeking the absolute minimum entry point into the Winnipeg market. The unrenovated basement and vintage condition indicate that any modernization will be the responsibility of the new owner, making it a project. Its appeal is grounded in affordability and potential, not immediate comfort or luxury.
Frequently Asked Questions
1. Why is the assessed value so much lower than the citywide average?
Assessed values are relative to the local market. This home's value is typical for the Inkster-Faraday area, where property values are generally lower than the Winnipeg citywide average. The "below average" citywide ranking reflects this broader economic context of the neighbourhood.
2. What does "Top 26%" for Land Area in the area mean?
This statistic means the property's lot size is larger than approximately 74% of comparable properties in Inkster-Faraday. It's a standout feature for the area, offering more outdoor space than most nearby homes.
3. Is the basement finished or usable?
The listing specifies the basement exists but is "not renovated." Buyers should assume it is in original, unfinished condition and budget for any desired upgrades to make it a functional living or storage space.
4. How recent are the sold price figures?
The most recent recorded sale is from December 2024, with a price range provided. The listing service offers to supply the exact sold price via email upon request.
5. What are the implications of the home's age (built in 1927)?
A home of this age will likely have original building materials and systems. Prospective buyers should prioritize a thorough inspection to understand the condition of the foundation, wiring, plumbing, and roof, and factor potential updates into their plans and budget.