Property Overview: 695 Centennial Street, Winnipeg
Key Characteristics & Appeal
This one-storey home on a standard city lot presents a practical and straightforward opportunity. Its key features include a renovated basement, a detached garage, and a living space of just over 1,000 square feet, which is typical for its immediate neighborhood. The home was built in 1958, making it notably newer than many in the J.B. Mitchell area—a subtle advantage that may suggest updated core systems or construction methods compared to its peers.
The appeal lies in its modesty and positioning as a solid, no-frills property. It sits comfortably around neighborhood averages for size, value, and lot size, indicating a home that is neither over-improved nor under-sized for its setting. The renovated basement adds functional living space, a valuable asset in a smaller home. It would suit first-time buyers seeking an entry point into the market, practical downsizers looking for single-level living without a premium price, or investors interested in a stable, average-value rental property. Its "around average" metrics across the board suggest a property that is unlikely to surprise and offers a balanced, grounded purchase.
Frequently Asked Questions
1. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal secondary suite. Buyers should verify its compliance with local zoning and building codes if considering rental income.
2. How does the assessed value relate to the likely market price?
The assessed value is a municipal figure for tax purposes. The last recorded sale was between $33.5k-$36.5k in late 2017. Market price is determined by current conditions and may differ significantly from both these figures.
3. What are the implications of the home being "newer" for the area?
Built in 1958, it's newer than many area homes. This could mean elements like wiring, plumbing, or foundation techniques are more modern, but a thorough inspection is still essential to verify the condition.
4. How does the lot size impact future plans?
At approximately 4,587 sq ft, the lot is slightly below average for the J.B. Mitchell area. This may limit options for large additions, pools, or extensive landscaping compared to properties on larger lots nearby.
5. Where can I find the exact historical sale price?
The provider states that exact sold prices are not publicly displayed due to data sourcing. They offer to manually provide this information via email upon request, at no cost and with no marketing spam.