Property Overview: 725 College Avenue, Winnipeg
Key Characteristics & Appeal
This two-storey home, built in 1914, offers a practical footprint of 1,356 sqft on a standard city lot. Its primary appeal lies in its above-average living space for the immediate Inkster-Faraday neighbourhood, providing more room than many comparable local homes. The property features a detached garage and an unrenovated basement, presenting a straightforward canvas. Its assessed value is modest relative to the wider Winnipeg market, suggesting an accessible entry point.
This home would suit a value-conscious buyer looking for a character home with good interior space in a mature neighbourhood. It’s a pragmatic choice for someone comfortable with a property that may require updates over time, rather than a move-in-ready showcase. The data suggests it’s a typical home for its street and area—neither a standout nor an outlier—which can mean less competition and a more predictable purchasing process.
Frequently Asked Questions
1. How does the living space truly compare to other homes?
At 1,356 sqft, this home is in the top 12% for size within the Inkster-Faraday neighbourhood, meaning it offers significantly more interior space than most direct local comparisons.
2. What does the assessed value indicate?
The City’s assessed value of $17,500 is around average for the street and area. However, it places the property in the top 95% citywide (meaning a lower value than 95% of Winnipeg homes), highlighting its relative affordability within the broader market.
3. Is the older year of build (1914) a concern?
The build date of 1914 is typical for the area. While it implies potential for older mechanical systems or the need for maintenance, it is not an outlier; many homes on the street and in Inkster-Faraday date from a similar era.
4. What can the recent sold price range tell me?
The recorded sale in late 2023 for between $20,500 and $23,500 provides a recent benchmark. This sold at a premium to the assessed value, which is common, and can help gauge current market activity on the street.
5. How does the lot size impact potential?
The lot of 3,624 sqft is standard for the area. It provides adequate outdoor space but is not unusually large, so expansion or addition possibilities would need to be checked against current zoning bylaws.