Property Overview
This home at 386 Morley Avenue in Winnipeg's Lord Roberts neighbourhood presents a classic, early 20th-century character combined with a notably accessible value proposition. Built in 1914, its appeal lies in its established location and the potential it represents. The home's assessed value is significantly below average for the street, area, and city, which could indicate an entry point into the market or a property with renovation potential. With a living area just over 1,000 sqft on a 2,500 sqft lot, its proportions are modest and typical for its immediate area. It would likely suit first-time buyers, value-conscious investors, or those specifically seeking a character home in a central neighbourhood who are prepared for the realities of an older property. A thoughtful perspective is that its older vintage (ranking above average for age on its street) may appeal to those valuing solid construction and neighbourhood charm over modern finishes, while the below-average assessment creates a distinct tax advantage.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
This is common for older, character homes in established neighbourhoods before significant renovations or updates. The assessment is based on a municipal valuation formula and may not reflect current market potential or the cost of needed improvements.
2. What does the sold price history indicate?
Public records show it last sold between $100k-$150k in 2020. This wide range highlights the importance of requesting the exact sold price for accurate comparison, which the listing service provides via email.
3. Is the lot size a limitation?
At 2,504 sqft, the lot is slightly below average for Lord Roberts but typical for Morley Avenue. It offers a manageable yard for maintenance while still providing outdoor space, a balance that suits many urban homeowners.
4. How does this home compare to others on the street?
Its living area is very close to the street average (~1,051 sqft), but it is one of the older homes on the block (built 1914 vs. a street average of 1927). This suggests a streetscape of similar-sized homes with a mix of eras.
5. What are the key considerations for a home built in 1914?
Prospective buyers should prioritize a thorough inspection focusing on foundational integrity, wiring, plumbing, and insulation—systems that may require updating. This due diligence is crucial to understanding the full investment beyond the attractive entry price.