Property Overview: 17 Nichol Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 17 Nichol Avenue in the Norberry neighbourhood presents a distinct profile defined by its contrasts. Its key characteristic is a generous, above-average land area of just over 8,000 sqft, offering substantial outdoor space that is rare citywide. This is paired with a modest, average-sized living area of 1,240 sqft within a century-old home built in 1921.
The appeal lies in this very combination: a large lot with a smaller, historically characterful house. It represents a land-value opportunity, as the assessed value is notably below average for the street, area, and city. This suggests potential for buyers who see value in the property itself rather than in a recently renovated interior. The home would suit a practical buyer looking for space to grow into—whether that means gardening, future expansions, or simply having a large yard—and who is prepared for the maintenance or updates that come with an older home. It’s a canvas for a long-term project rather than a move-in-ready showcase.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than neighbouring homes?
The assessed value reflects the property’s current state as an older, smaller home on its street. While the land itself is valuable, the age and size of the dwelling bring the total assessment down compared to larger or more modernized homes in the area.
2. What does the sold price range indicate?
The home sold between $400,000 and $450,000 in October 2024. This final sale price significantly exceeded its $266,000 assessed value, indicating strong market demand for the property’s potential, likely driven by its large lot size.
3. As a 105-year-old home, what should I consider?
While offering charm and character, a home of this age will likely require attention to foundational systems like wiring, plumbing, and insulation. A thorough inspection is essential to understand the scope of any needed maintenance or updates.
4. How does the lot size compare practically?
At 8,099 sqft, the lot is substantially larger than the typical Winnipeg property. This provides exceptional outdoor space for recreation, gardening, or future additions like a garage, deck, or even an expansion of the living area, subject to local zoning.
5. Is the living area sufficient for a family?
At 1,240 sqft, the living space is functional and average for the local area. It may feel cozy for a larger family but could be adequate, with the significant benefit of the large yard acting as an extended living space during warmer months.