Property Overview: 188 Braemar Avenue, Norwood East, Winnipeg
Key Characteristics & Appeal
This home presents a distinct profile centered on space, location, and potential. Its primary appeal lies in offering significantly more living area (1,614 sq ft) and a larger lot (5,994 sq ft) than most homes on its street and in the established Norwood East area. This creates a rare combination for the neighbourhood: ample indoor and outdoor space. With an assessed value of $392k, it sits above the local average but aligns with the broader city benchmark, suggesting its valuation is rooted in these tangible assets rather than neighbourhood premium alone.
A key, less obvious characteristic is its 1911 construction. While this places it among the oldest homes in the area, it also indicates a property with heritage character and likely solid, mature construction. This appeals to buyers who value charm and are prepared for the stewardship an older home requires. The property suits two main types: growing families seeking space in a central community without moving to the suburbs, or value-conscious buyers looking for a "blank canvas" home with good bones and the land to potentially expand or renovate over time. Its last sale was between $400k-$450k in August 2020.
Frequently Asked Questions
1. Is the older age of the home (1911) a major concern?
It's a primary consideration. While it offers character and mature landscaping, it necessitates a thorough inspection for foundational integrity, wiring, plumbing, and insulation. Budgeting for ongoing maintenance and potential updates is essential.
2. How does the assessed value compare to likely market value?
The assessed value ($392k) is for municipal tax purposes. The last sold price (2020) was between $400k-$450k. Current market value would depend on condition, updates since then, and market trends, so a professional appraisal or comparative market analysis is recommended.
3. What is the real advantage of the larger lot size?
Beyond a bigger yard, it offers valuable flexibility. It provides more privacy, room for gardens or recreation, and potential for future additions like a garage, workshop, or expanded living space, subject to local zoning.
4. The home ranks highly for space locally but closer to average city-wide. What does that mean?
It confirms you are getting a relatively spacious home for its central, established neighbourhood. Compared to newer suburban developments, lot and living space may be more typical. The value is in getting that space within a mature community.
5. How can I verify the exact historical sale prices?
The site provides sold price ranges. For fully verified and exact sale figures, you must request a manual lookup via email, as this data is not sourced from the MLS system.