Property Overview: 174 Selkirk Avenue, Winnipeg
Key Characteristics & Appeal
This property presents a study in contrasts, defined by its exceptional size and very modest official valuation. Built in 1901, the home offers a massive 4,010 sqft of living space, placing it in the top 1% of homes in its immediate area and citywide for square footage. It sits on a larger-than-average lot for the neighbourhood at 5,487 sqft. The primary appeal lies in this immense scale, offering rare potential for multi-generational living, a rooming house (subject to zoning), a large creative workspace, or a significant renovation project.
However, this potential comes with context. The home's assessed value of $79k is among the lowest in Winnipeg, reflecting its age, likely condition, and the economic reality of the North Point Douglas area. It last sold for an estimated $150k-$200k in early 2020. This combination makes it a high-stakes opportunity suited for a specific buyer: investors or owner-occupants with substantial renovation capital and vision, who are comfortable with the neighbourhood's dynamics. It is not a move-in-ready home, but a canvas for a major project where the low entry price offsets the anticipated renovation costs.
Frequently Asked Questions
1. Why is the living area so large, but the assessed value so low?
The size is a historical characteristic of the home, but assessed value is based on current market conditions, age, and likely the property's state of repair. The very low assessment suggests the interior condition and systems require significant modernization or repair.
2. What does the sold price range from 2020 tell me?
The previous sale in the $150k-$200k range, significantly above the current assessed value, indicates that buyers have recently placed a premium on the property's potential. It also sets a rough benchmark for its market value in recent years.
3. Is this a good opportunity for a first-time home buyer?
Generally, no. The scale, age, and probable renovation needs make this a complex project. It is better suited for experienced investors or buyers with renovation expertise and access to considerable additional funds beyond the purchase price.
4. How significant is the 125-year age of the home?
It means the structure has historical character but will require thorough inspection for foundational integrity, wiring, plumbing, and insulation. Renovation costs will be higher to meet modern standards, and the project may involve heritage considerations.
5. The lot size is noted as "around average" citywide. Why is that highlighted?
While the lot is large for Selkirk Avenue, average citywide lots are larger because they include newer suburban areas. This highlights that the property's standout feature is the building size itself, not the land parcel, which is more typical for Winnipeg overall.