Property Overview: 705 Nottingham Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This 816 sqft bungalow, built in 1956, presents a classic Winnipeg home with a clear value proposition. Its key characteristic is a generous 5,499 sqft lot, which is notably larger than most in the immediate neighbourhood and Munroe East area. This offers significant outdoor space and potential for gardening, expansion, or future development, setting it apart from homes with similar living areas.
The appeal lies in its established, no-frills practicality. With an assessed value of $290,000, it sits around the average for its street and area, suggesting a fair market entry point. The home’s smaller interior footprint translates to lower utility costs and manageable upkeep, while its recent sale history indicates steady market interest. It suits first-time buyers seeking an affordable entry into homeownership with room to grow outdoors, or practical investors looking for a land-advantaged property in a stable neighbourhood. It’s less suited for those prioritizing modern, open-concept interiors or a large home without renovation plans.
Section 2: Frequently Asked Questions
1. How does the lot size compare to nearby properties?
The lot is a standout feature. At 5,499 sqft, it ranks in the top 23% for size within the Munroe East area, meaning it’s larger than over three-quarters of comparable local lots.
2. Is the living area smaller than average?
Yes. The 816 sqft living area is below the average for the street, neighbourhood, and city. This indicates a compact, efficient layout typical of its era, which may require creative use of space.
3. What does the assessed value tell us about the property?
The $290,000 assessment is around the local average but below the city-wide average. This typically reflects the home’s older age, smaller size, and the area’s market, rather than an undervaluation.
4. How have past sale prices performed?
The home sold between $250k-$300k in 2021 and $200k-$250k in 2017. The 2021 sale price ranked in the top 42% for the street, indicating it was a competitive purchase at that time, showing solid local demand.
5. Who should consider requesting the exact sold price history?
Serious buyers who are crafting a competitive offer or market analysts would benefit most. Knowing the precise final sale price from 2021 provides a concrete benchmark for current market value, beyond the assessed value estimate.