Property Overview: 763 College Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home in the Inkster-Faraday neighbourhood presents a practical and straightforward opportunity. Its key characteristics include a modest 900 sqft living area, a renovated basement, a detached garage, and a standard 3,652 sqft lot. Built in 1920, it is a century-old property that is statistically average for its immediate area in terms of size, assessed value, and lot dimensions.
The appeal lies in its position as an affordable entry point into the Winnipeg market, particularly for those who value a renovated basement space and the flexibility of a detached garage. It suits first-time buyers, investors, or downsizers seeking a lower-maintenance footprint without a premium price tag. A thoughtful perspective is that while its living space is below the city average, its assessed value is proportionally even lower citywide, which may indicate a different value proposition compared to newer suburbs. It’s a home for those comfortable with a character property that performs in line with its established neighbourhood rather than standing out.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to recent sale prices?
The home was last sold in September 2023 for an estimated $20.5k-$23.5k, which was above its current $17.8k assessed value at that time. This suggests the market price may trend above the municipal assessment.
2. Is the living space sufficient for a small family?
At 900 sqft, the living area is below the neighbourhood average. It would likely suit a couple, a single individual, or a very small family comfortable with cozy quarters, especially with the additional renovated basement space.
3. What should I consider with a home from 1920?
While the basement has been renovated, the core structure is over 100 years old. Prospective buyers should prioritize a thorough inspection focusing on the foundation, plumbing, electrical systems, and insulation to understand any needed updates or maintenance inherent to a property of this age.
4. How does this property rank compared to others?
The data shows this home is consistently "around average" when compared directly to its neighbours on College Avenue and in the Inkster-Faraday area. Its city-wide rankings are lower, highlighting that it offers a different scale and value than the typical Winnipeg home.
5. Can I get the exact historical sale price?
The exact sold price is not publicly listed in the details. The listing service offers to provide the precise figure via email upon request, stating they aim to reply manually by the end of the same day.