Property Overview: 784 Beaverbrook Street, Winnipeg
Section 1: Key Characteristics & Appeal
This home on Beaverbrook Street in the Mathers neighbourhood presents a distinct value proposition centered on its land. Built in 1956, the 912 sqft house is modest in size, ranking below average for living area both locally and city-wide. Its assessed value is similarly positioned below the local average but aligns more closely with the broader Winnipeg market.
The property’s primary appeal lies in its generous 5,610 sqft lot, which ranks in the top 5% on its street. This offers significant outdoor space and potential not commonly found with homes of this assessed value. The combination of a lower-value home on a sizable lot often attracts buyers looking for a long-term home with room to expand, garden, or simply enjoy private outdoor space, as well as investors or renovators who see potential in the land value relative to the structure.
It would suit practical, value-oriented buyers such as first-time homeowners comfortable with a smaller footprint who prioritize yard space over interior square footage, or those with a vision to renovate or rebuild over time. It’s a property where the land is the standout asset, suggesting its future value may be less about the current house and more about the possibilities of the lot.
Section 2: Frequently Asked Questions
1. Is the house in need of major updates?
Given its age (1956) and below-average assessed value for the street and area, buyers should budget for updates. The interior size and value metrics suggest the home likely retains much of its original character and systems.
2. What makes the lot size significant?
At 5,610 sqft, the lot is notably larger than most on Beaverbrook Street (top 5%). This provides uncommon space for gardens, recreation, or future additions in a mature neighbourhood where large lots are rare.
3. How does the sold price history inform the current value?
The home sold between $250k-$300k in 2021. This historical price, combined with a current assessed value that is low for the area but average for the city, indicates a property whose market value may be influenced more by its land potential than its existing structure.
4. Who are the typical neighbours?
The listing shows nearby properties have similar assessed values, suggesting a mix of modest, well-established homes. The variety in year built and lot sizes on the street indicates a neighbourhood with diverse housing styles.
5. Why is the assessed value so much lower than the city-wide average for comparable homes?
The "city-wide average" of $390k for comparables likely includes a very broad mix of properties. The key takeaway is that this home’s assessment is below average for its immediate Mathers area, which generally reflects the home's smaller size and older condition rather than its location.