Property Overview: 440 Morley Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 440 Morley Avenue in the Lord Roberts neighbourhood presents a classic, grounded opportunity. Built in 1911, it’s a character home with a living area of 1,050 sqft on a 2,503 sqft lot, placing it squarely in the average range for its immediate street and area. Its assessed value of $210k is notably below the citywide average, suggesting it may offer relative affordability within Winnipeg.
The primary appeal lies in its established location and practical proportions. It suits a first-time homebuyer or an investor looking for a character property in a mature neighbourhood without a premium price tag. It’s also a fit for those who value a sense of community in a long-standing area over a new-build subdivision. A thoughtful perspective is that its "average" metrics within Lord Roberts indicate stability and predictability, not standing out in a negative way but blending into a consistent streetscape. Recent sale history shows steady appreciation, moving from the $200k-$250k range in 2021 to $250k-$300k in 2024, pointing to a solid trajectory.
Section 2: Frequently Asked Questions
1. Is this a fixer-upper?
Given its age (1911) and assessed value below area averages, some updates may be needed. Prospective buyers should budget for a thorough inspection to understand the condition of major systems like plumbing, electrical, and the roof, which are typical considerations for homes of this era.
2. How does the lot size impact potential?
At 2,503 sqft, the lot is smaller than the city average. This means lower maintenance but also limits expansion possibilities. Any future renovation or addition would need to be carefully designed to maximize the available space and comply with zoning bylaws.
3. What does the sold price history indicate?
The home sold in 2021 for an estimated $200k-$250k and again in 2024 for $250k-$300k. This suggests a healthy increase in market value over a three-year period, reflecting both market trends and possibly improvements made by the previous owner.
4. Who are the typical neighbours?
The listing shows several nearby properties on the same street with very similar addresses (e.g., 442, 444 Morley Ave). This indicates a tight-knit block of comparable, likely older homes, which can foster a strong neighbourhood feel but may also mean fewer modernized comparables when valuing the property.
5. Why is the assessed value lower than the city average?
The $210k assessment is significantly below the Winnipeg average. This is common for older, more compact homes in established neighbourhoods compared to newer, larger homes on bigger lots in suburban areas. It can be an advantage for property tax calculations, but the market sale price is determined by current buyer demand.