Property Overview
This 1,014 sqft home on Morley Avenue in Lord Roberts is a classic Winnipeg character property, built in 1911. Its key appeal lies in its established, central neighbourhood and the potential value it represents. The home sits on a 2,504 sqft lot, which is a comfortable size for the area. While its living space is typical for similar homes in Lord Roberts, the property’s assessed value is notably below average for the street, neighbourhood, and city. This suggests it could be an opportunity for a buyer looking for a character home with room to add value, whether through updates, an addition, or simply by holding it in a desirable location. It last sold between $150k-$200k in 2021.
This home would suit a practical first-time buyer, an investor, or a hands-on owner who appreciates older homes and is prepared for the realities of a 115-year-old structure. Its below-average assessment for the area indicates it may not be recently renovated, appealing to those who want to customize a space to their own taste.
Frequently Asked Questions
1. What does "below average assessed value" actually mean for a buyer?
It indicates the city's tax assessment is significantly lower than the average for comparable homes. This often points to a property being in a more original condition or having features that don't align with current assessment models. It can mean lower property taxes now but also suggests potential to increase the value through improvements.
2. Is the lot size a constraint for future expansion?
At just over 2,500 sqft, the lot is typical for this mature part of Lord Roberts. While not oversized, it is consistent with the neighbourhood and likely accommodates the existing footprint with some outdoor space. Any significant expansion would need to be carefully designed within the lot's constraints and local zoning bylaws.
3. How does the 1911 build year affect the buying decision?
It guarantees character but also requires careful inspection. Buyers should budget for maintenance and updates typical of a century-old home, such as potential knob-and-tube wiring, older plumbing, and original windows. The charm and solid construction are trade-offs for modern convenience.
4. The sold price from 2021 seems low. Is that relevant today?
The 2021 sale price provides a historical benchmark, but the market has shifted since then. It's most useful for understanding the property's previous market position rather than predicting its current value. The key data points are the current assessed value metrics and recent sales of comparable homes.
5. Who are the most likely competing buyers for this property?
Given its profile, competition would likely come from value-conscious buyers seeking entry into Lord Roberts, investors looking for a character rental property, or contractors seeking a "live-in flip" opportunity where they can add sweat equity. It's less likely to attract buyers seeking a turn-key, modernized home.