Property Overview & Key Characteristics
This home at 1-738 Dorchester Avenue is a 1,007 sqft property built in 1911, presenting a classic character home opportunity in Winnipeg's Mcmillan neighbourhood. Its assessed value is $26,500. The appeal lies in its position as a more compact and historically grounded property within its immediate area, where it offers a lower entry point compared to many larger, more modern neighbours. While its living space is below the local street average, it ranks around the city-wide average, suggesting a manageable size for the right buyer.
The property would suit a first-time buyer, an investor, or someone seeking a character home who prioritizes location and potential over move-in perfection. It’s for a buyer comfortable with a home that requires updates and appreciates the narrative of a 115-year-old structure. A thoughtful perspective is that its "below average" size and age for the street could represent a value opportunity in a established area, allowing for personalization without the premium of a fully renovated character home.
Frequently Asked Questions
1. How does this home’s size compare practically?
At 1,007 sqft, it is smaller than the average home on Dorchester Avenue but is very close to the average size for both the wider Mcmillan area and the city overall. This indicates a efficient, manageable layout typical of its era.
2. What does the sold price history indicate?
The home sold between $300k-$350k in 2022 and $150k-$200k in 2017. This significant appreciation over five years reflects strong market trends, but the 2022 price point also sets a recent benchmark for value in the area.
3. Is the 1911 build date a concern?
The year 1911 means this is one of the older homes in the city (ranking in the top 98% oldest). Buyers should budget for and expect updates to major aging components like plumbing, electrical, and insulation, which is typical for homes of this vintage.
4. Who are the typical neighbours?
The property is on a street with a mix of much newer homes (the area average build year is 1950). This means you’re in a neighbourhood with established roots but one that has seen substantial renewal and investment over time.
5. How is the assessed value used?
The $26,500 assessment is for municipal tax purposes only and is not an indicator of market value. Market value is better gauged by recent sale prices and current listings, as assessments often lag behind the real estate market.