Property Overview
This one-and-a-half storey home at 695 Machray Avenue presents a practical opportunity in Winnipeg's Inkster-Faraday neighbourhood. Built in 1944, it offers 1,195 sqft of living space and sits on a 4,026 sqft lot, featuring a renovated basement and a detached garage.
Key Characteristics & Appeal
The primary appeal of this property lies in its balance of established character and functional updates within a specific market segment. Its living space and assessed value are notably above average for the immediate Inkster-Faraday area, suggesting it may offer more value within its local context compared to similar homes nearby. The renovated basement adds usable square footage and modern convenience to the older structure.
This home would suit a first-time buyer or an investor looking for a solid, no-frills property in a mature neighbourhood. It’s a straightforward option for someone who values the potential stability of a home that performs well against local benchmarks over flashy features. The detached garage is a practical asset for storage or a vehicle. A thoughtful perspective is that while the home's city-wide rankings for value and lot size are below average, its strong standing within its own neighbourhood indicates it is a competitive property on its specific street—a key detail for buyers focused on hyper-local value rather than city-wide comparisons.
Frequently Asked Questions
1. What does the "above average" ranking for the neighbourhood actually mean?
For key metrics like living area and assessed value, this home ranks in the top 30% of comparable properties in Inkster-Faraday. This means it offers more space and a higher assessment than most similar homes in the immediate area.
2. Is the basement renovation a full legal suite?
The listing confirms the basement is renovated but does not specify it as a legal secondary suite. Buyers should verify its compliance with local regulations if considering rental income.
3. How does the lot size impact potential?
At just over 4,000 sqft, the lot is below average for the street but typical for the neighbourhood. It provides adequate outdoor space for a garden or patio but may limit possibilities for large additions or pools.
4. The home sold in 2021 and 2018. What does that history suggest?
The two recent sales indicate a property that has changed hands every few years. Reviewing the sold price ranges can help gauge its market trajectory and stability.
5. Why is the city-wide assessed value ranking so different from the neighbourhood ranking?
The assessed value is above average for Inkster-Faraday but below average city-wide. This highlights how property values are relative; it's a stronger performer in its local market than it would be in more expensive areas of Winnipeg.