Property Overview
141 Bristol Avenue is a 918 sqft home built in 1924, situated on a notably generous 5,579 sqft lot in Winnipeg's Norwood East neighborhood. With an assessed value of $288k, it presents a specific value proposition shaped by its balance of space, age, and location.
Key Characteristics & Appeal
The primary appeal of this property lies in its land. The lot size is well above average for both Bristol Avenue and the wider Norwood East area, offering rare potential for expansion, gardening, or outdoor living in an established inner-city neighborhood. This is contrasted with a living area that is modest and slightly below the citywide average, suggesting the home itself may be cozy or in need of modernization to suit contemporary needs.
Its assessed value sits below the Winnipeg city average, indicating a more accessible entry point into the market. However, it is competitively priced within its immediate area, representing a typical offering for Norwood East. The home’s century-old age is a double-edged sword; it offers classic character but also implies a greater need for attention to maintenance, systems, and potential updates compared to newer builds.
This home would best suit a pragmatic buyer who values land size over interior square footage. It could be an ideal project for someone looking to gradually renovate or expand, or for a buyer seeking outdoor space without a premium suburban price tag. It’s less suited for those seeking a large, move-in-ready interior space without renovation plans.
Frequently Asked Questions
1. Is the below-average living area a major drawback?
It depends on your priorities. The home offers less interior space than the Winnipeg average, which may feel compact for some. However, this is offset by the larger-than-average lot, which provides options for future additions, a garage, or extensive outdoor use.
2. What does the 1924 build year mean for me as a buyer?
A home of this age has character and likely solid construction, but it necessitates a thorough inspection. Budgeting for updates to plumbing, electrical, insulation, and the roof should be a key part of your planning. Its value is more in its location and lot than in modern amenities.
3. How does the assessed value relate to the likely selling price?
The assessed value ($288k) is for municipal tax purposes and is typically below market value. The last known sale was between $200k-$250k in 2017. A current market evaluation is essential, as prices have shifted. The assessment does confirm it's positioned as a more affordable option within the city.
4. The lot is large, but are there restrictions on what I can build?
Potentially. While the lot size offers great flexibility, any new structures, additions, or significant alterations would require checking with the City of Winnipeg for zoning bylaws, heritage designations (if applicable), and necessary permits.
5. How does this property compare to others on the same street?
The data shows it is very typical for Bristol Avenue in terms of living space, value, and age. Its key differentiator is the lot size, which ranks in the top 22% on the street. This means you’re getting a standard Norwood East home but with one of the better parcels of land on the block.