Property Summary: 616 Walker Avenue, Lord Roberts, Winnipeg
Key Characteristics & Appeal
This home presents a distinct value proposition centered on its lot and location rather than its size. Built in 1957, it is a notably newer construction compared to most homes on its street and in the established Lord Roberts neighbourhood. Its primary appeal lies in its above-average assessed value for the immediate area, suggesting it is viewed favorably relative to its local peers. The 2,207 sqft lot is also generous for the street.
However, with a living area of 608 sqft, the home itself is compact, ranking below average for size at every comparison level—street, neighbourhood, and city. This creates a specific dynamic: you are acquiring a relatively newer structure on a good-sized lot in a central neighbourhood, but with the understanding that the interior space is modest.
This property would best suit a minimalist buyer, a first-time homebuyer prioritizing location and lot potential over immediate space, or an investor looking for a manageable rental property in a desirable area. Its value is rooted in the land and its position within the community, offering a foothold in Lord Roberts with the possibility of future expansion or renovation, subject to local regulations.
Frequently Asked Questions
1. Why is the assessed value relatively high for a smaller home?
Assessment considers multiple factors beyond size, including the building's condition, age (this being newer than most in the area), and the desirability of the lot and location. Its above-average ranking on Walker Avenue indicates it is assessed more favorably than many neighbouring properties.
2. What are the realistic possibilities for expanding the living space?
The lot size is a key asset here. While any expansion would require proper permits and adherence to zoning bylaws, the property's footprint allows for potential additions or renovations that a typical infill lot might not. A buyer should investigate the specific development standards for Lord Roberts.
3. How does the sold price history inform the current value?
The home sold between $200k-$250k in 2016. This historical data provides a benchmark, but current market conditions, updates to the property, and comparable recent sales in Lord Roberts will be more critical for determining today's fair market value.
4. Is the smaller living area a concern for resale?
It defines the property's niche. While it may appeal to a narrower segment of the market than a larger home, its appeal lies in its efficiency, lower maintenance, and the potential it represents. Resale would depend on finding the next buyer who values its specific set of characteristics.
5. What is the immediate neighbourhood like?
Being on Walker Avenue in Lord Roberts places you in a mature, central neighbourhood. The proximity to nearby homes on similar lots suggests a consistent streetscape. Reviewing the neighbourhood analysis map is highly recommended to understand the specific context of nearby home sizes, ages, and values.