Property Overview
This 1905 two-and-a-half storey home on Furby Street in Spence offers a blend of historic character and practical space. Its key appeal lies in its generous proportions, both in living area (2,130 sq ft) and land size (3,273 sq ft), which are notably above average for the neighbourhood and city. The home features a renovated basement, adding to its functional living space. While it lacks a garage, the property ranks highly for its lot size and living area within Winnipeg, suggesting a solid footprint and potential.
The property would suit a value-conscious buyer looking for a character home with room to grow or adapt in a central neighbourhood. It's particularly relevant for those who prioritize interior space and land over modern amenities like a garage or pool. The recent sale in 2022 indicates a relatively current market transaction, providing a clear benchmark. Given its assessed value is significantly lower than many comparable listings in the area, it may attract investors or renovators seeing potential beyond its current official valuation.
Frequently Asked Questions
What does the ranking data (e.g., "Top 16% in Winnipeg") actually mean?
This statistic compares this specific property feature (like living area) against all other properties in Winnipeg. For example, its living area is larger than 93% of Winnipeg properties, which is a significant advantage for space.
The assessed value is much lower than recent sale prices of nearby homes. Why?
Municipal assessed value for taxation purposes often lags behind current market values and is calculated using mass appraisal techniques. The recent 2022 sale price of $19.80k is a more current indicator of its market value, with nearby similar homes showing assessed values up to $23k.
Is the "renovated basement" a full legal suite?
The provided details confirm a renovated basement but do not specify if it is a legal secondary suite or has a separate entrance. This is a critical point for verification with the listing agent or city records, especially if rental income is a consideration.
What are the implications of the home being 121 years old?
While offering classic charm, it necessitates a thorough inspection for foundational integrity, wiring, plumbing, and insulation. The renovated basement is a positive update, but the overall home will likely require ongoing maintenance consistent with its age.
How does the lack of a garage affect practicality in this neighbourhood?
Without a garage, on-street parking is the only option. Prospective buyers should visit at different times to gauge parking availability. For some, the trade-off for a larger house and lot at this price point may outweigh the absence of private parking.