Property Overview & Key Characteristics
This one-storey home on a large 6,065 sqft lot in River East presents a classic Winnipeg opportunity. Built in 1932, its core appeal lies in its generous, established lot—ranking in the top third for size on its street—offering ample outdoor space and future potential in a mature neighbourhood. With 1,200 sqft of living space and an attached garage, it provides solid fundamentals. The assessed value is notably modest compared to many nearby properties, which may indicate an entry point for the area or a home in need of modernization. The basement exists but is noted as not renovated.
Its appeal is primarily for value-conscious buyers, investors, or handy homeowners looking for a property where the land is a significant asset. It would suit someone comfortable with a home of this era, possibly planning gradual updates or viewing the lot itself as a long-term investment. A less obvious perspective is that, while older, it ranks in the top 16% in Winnipeg for age (newer is better), meaning a significant portion of the city's housing stock is even older, providing some context for its condition.
Frequently Asked Questions
1. What does "not renovated" for the basement imply?
It typically means the basement is in original or functional condition, not updated to modern finishes. Buyers should budget for potential moisture-proofing, insulation, or layout improvements if wanting finished living space.
2. How significant is the lot size?
At over 6,000 sqft, the lot is a standout feature, offering more private outdoor space than many newer properties. This allows for gardening, expansion, or adding outdoor structures, subject to city bylaws.
3. The home is older—what should I prioritize in an inspection?
Given its age, a thorough inspection of the foundation, roof, wiring, plumbing, and heating systems is essential to understand the scope of any needed maintenance or updates.
4. The assessed value seems low compared to some listings. Why?
Municipal assessed value for taxation doesn't always equal market value. A lower assessment can sometimes reflect the home's condition or outdated systems, but it may also represent a favourable property tax burden relative to the neighbourhood.
5. Is this a good street in River East?
The rankings provided show the property sits in a mixed context. It ranks in the top 37% for lot size on its street but in the bottom 1% for the year built (meaning most neighbours' homes are newer). This suggests a street with varied housing ages and sizes.