Property Overview: 525 Sydney Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a distinct value proposition centered on its generous 5,000 sqft lot, which is notably larger than most on its street and in the immediate Munroe West area. The house itself, built in 1914, is compact at 777 sqft, placing it below the average size for the neighbourhood and city. Its assessed value of $252k is very typical for the street and area but sits well below the Winnipeg city average, indicating a more affordable entry point into the market.
The primary appeal lies in the land itself. This property suits a buyer who prioritizes outdoor space for gardening, expansion, or simply having room to breathe, over a large interior footprint. It’s a practical fit for a first-time buyer, an investor, or someone looking to downsize without sacrificing yard size. The home’s age suggests potential for character but also necessitates a mindful approach to maintenance and updates. A thoughtful perspective is that this property offers the chance to own a proportionally large lot in an established neighbourhood—a feature that is increasingly rare and cannot be added to a home later.
Section 2: Frequently Asked Questions
1. Is the house in need of major updates due to its age?
Built in 1914, the home is older than most in the area. A thorough inspection is essential to understand the condition of major systems like wiring, plumbing, and the foundation, which may require updating or maintenance.
2. How does the lot size compare to nearby properties?
The 5,000 sqft lot is a standout feature. It ranks in the top 4% on Sydney Avenue, meaning it is significantly larger than the street average of about 3,914 sqft.
3. The living area seems small. How does it compare?
At 777 sqft, the home’s living space is below the average for both Munroe West (~958 sqft) and Winnipeg overall (~1,342 sqft). This confirms it is a more compact dwelling, emphasizing efficient use of space.
4. What is the property’s value history?
Public records show it sold between $150k-$200k in 2017 and between $200k-$250k in 2020. Exact sale prices require a manual lookup request through the site.
5. Is the assessed value a reliable indicator of market price?
The $252k assessment is close to the average for Sydney Avenue and Munroe West. However, market price is determined by current conditions, buyer demand, and the property's specific state, so it may differ.