Property Overview
487 Carlaw Avenue is a compact, century-old home in Winnipeg's Lord Roberts neighbourhood. Its primary appeal lies in its position as a more accessible entry point into the market, offering a balance of a established location and a manageable scale. The 720 sqft house, built in 1911, sits on a 2,499 sqft lot. Key metrics show it is a below-average-sized home for the city, but its assessed value is relatively average for its immediate street and neighbourhood, suggesting the value is anchored in its location rather than its size.
This property would best suit a first-time buyer, an investor looking for a rental property, or someone seeking a minimalist, low-maintenance footprint in a central area. Its smaller scale means lower utility costs and less upkeep, but it requires a buyer comfortable with compact living. A thoughtful perspective is that while the home is modest compared to city-wide averages, its lot size is competitive on its own street, offering potential outdoor space that is valuable for a home of this era and size.
Frequently Asked Questions
1. Is this a "fixer-upper" or a move-in ready home?
The provided data doesn't specify the interior condition. Given its age (1911) and below-average assessed value for the area, a prospective buyer should budget for potential updates or maintenance common to houses of this vintage.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value is primarily a function of the home's smaller size and age compared to the broader Winnipeg average. It is much more in line with averages for Lord Roberts and Carlaw Avenue itself, which is a more relevant comparison.
3. What are the advantages of a smaller home like this?
The clear advantages are lower property taxes, typically reduced heating and electrical costs, and less time and money spent on maintenance and cleaning. It promotes a simpler, more efficient lifestyle.
4. The last sale was between $150k-$200k in 2019. What is it worth now?
Market conditions have changed since 2019. To understand its current market value, you should review recent sales of similarly sized homes in Lord Roberts and consult with a local real estate professional for a comparative market analysis.
5. Is there room to expand or build an addition?
The 2,499 sqft lot is relatively standard for the street. Any expansion would be subject to the City of Winnipeg's zoning bylaws, setback requirements, and the feasibility of working with a 115-year-old structure. A review of the property's survey and zoning would be essential first steps.