Property Overview
This home at 48 Nichol Avenue in Winnipeg's Norberry neighbourhood presents a specific value proposition defined by its balance of space, location, and lot size. Built in 1952, it sits on a generous 8,095 sqft lot—a standout feature that is larger than most in the wider city and the local area. The 940 sqft living area is more compact compared to others on its street but is generally in line with the neighbourhood average. With an assessed value of $347,000, it is priced consistently with comparable homes in Norberry.
The primary appeal lies in its substantial lot, offering significant outdoor space and potential in a mature, established area. The home suits first-time buyers or downsizers looking for a manageable footprint without sacrificing yard space, or investors who see value in the land relative to the structure. A thoughtful perspective is that while the house itself is modest, the property's value is anchored in its land, which is a increasingly scarce commodity in the city. It represents an opportunity for someone comfortable with a home that may require updates, in exchange for a prime asset: the space it sits on.
Frequently Asked Questions
1. How does the living space compare to nearby homes?
At 940 sqft, the home is smaller than the average on Nichol Avenue itself but is close to the typical size for the broader Norberry neighbourhood. It's a compact layout suited for efficient living.
2. Is the lot size a significant feature?
Yes. The 8,095 sqft lot is notably larger than the average for both Winnipeg and the Norberry area. This is a key asset, providing ample yard space, privacy, and potential for gardening, expansion, or outdoor living.
3. What does the assessed value tell us about the price?
The $347,000 assessment is very close to the neighbourhood average, suggesting the property is valued in line with market norms for Norberry. It indicates a stable, mid-range valuation without significant premium or discount based on the official assessment.
4. The home was built in 1952. What should I consider?
As a home from the 1950s, prospective buyers should budget for potential updates to major systems like plumbing, electrical, or the roof, which may be nearing the end of their service life. A thorough inspection is advised.
5. How can I find out the exact past sale price?
The site provides sold price ranges for context. To obtain the exact sale figures and full transaction history, you must request a manual lookup via email, as this data is not sourced from the MLS system.