Property Overview: 274 Stuart Avenue, Winnipeg
Key Characteristics & Buyer Appeal
This home at 274 Stuart Avenue in River East presents a distinct value proposition centered on its generous lot. The key characteristic is the 9,778 sqft property, which is significantly larger than average for the street, neighborhood, and city. This offers substantial outdoor space and potential. The trade-off is a living area (1,020 sqft) that is modest compared to local averages, housed in a structure built in 1955, which is older than most in the immediate area.
Its primary appeal lies in its value positioning and land. With a current assessed value notably below the area averages, it represents a more accessible entry point into the neighborhood. The large lot is a standout feature for buyers prioritizing outdoor space, gardening, expansion potential, or simply a greater sense of privacy. This property would best suit practical, value-conscious buyers—such as first-time homeowners, downsizers, or investors—who are comfortable with a home that may require updates and who see greater worth in land size than in interior square footage. It’s a home that offers immediate utility and long-term potential through its land, rather than immediate modern finishes or spacious rooms.
Frequently Asked Questions
1. Is the lower assessed value a sign of problems?
Not necessarily. The assessment reflects the home’s age, smaller living area, and market position. It primarily indicates this is a value-oriented listing compared to newer or larger homes on the same street, not a default sign of structural issues.
2. What can I do with such a large lot?
Beyond traditional gardening, the lot size offers flexibility for adding a substantial garage or workshop, creating recreational space, or potentially subdividing in the future, subject to city zoning approval. It provides a rarity in many urban areas: room to grow.
3. How much work might a 1955 home need?
While systems like roofing, plumbing, and electrical may have been updated over time, a home of this age warrants a thorough inspection. Budgeting for ongoing maintenance and potential updates to windows, insulation, or mechanical systems is prudent.
4. How does the sold history help determine a fair price?
The home sold in 2017 and 2021, each time in a different price band. This history shows it has been a consistent value property. Understanding the exact sold prices (available by request) and what renovations occurred between those sales is key to gauging current market value.
5. Are the nearby reference properties good comparisons?
The listed references vary. Some are similar in size and value, while others are newer or larger. This highlights that this home competes on lot size and price point rather than on modern features or interior space, which is important to consider when comparing.