Property Overview: 289 Boyd Avenue, Winnipeg
Key Characteristics & Appeal
This is a classic one-and-three-quarter storey home in Winnipeg's St. John's neighbourhood, built in 1905. Its key characteristics include a 1,062 sqft living area on a notably spacious 2,281 sqft lot, an unrenovated basement, and no garage. The appeal lies in its established location and lot size, with the property ranking in the top 14% for land area on its street and in the top 2% for lot size within both the neighbourhood and the entire city. This suggests valuable outdoor space and potential in a mature community.
The home suits a specific type of buyer: those seeking an affordable entry into homeownership on a substantial lot, or an investor looking for a character property with land value. It's a project-oriented home, ideal for a hands-on buyer who values the long-term potential of the land and location over immediate move-in readiness. A less obvious perspective is that the very low assessed value ($10,100) compared to nearby sales (a similar home sold for $13,100 in 2022) may indicate either a significant need for updates or a potential valuation opportunity, depending on market conditions and the property's exact state.
Frequently Asked Questions
1. What does "one-and-three-quarter storey" mean?
This is a traditional architectural style where the second floor has slightly less floor area than the main floor, often featuring sloped ceilings or dormer windows, common in early 20th-century homes.
2. The assessed value seems very low. What does this indicate?
A municipal assessed value is used for tax purposes and doesn't always reflect market value. A low assessment can be due to the home's age, condition, or specific market factors, but it typically results in lower property taxes, which can be an advantage.
3. Is the unrenovated basement a major concern?
It depends on your plans. It means the basement space is in its original state and likely not finished as living space. It should be carefully inspected for foundational integrity, moisture, and the condition of essential systems like the furnace and wiring.
4. Who is responsible for the lack of a garage?
The property has no garage, so a buyer would need to consider on-street parking or the cost and feasibility of adding a parking structure later, subject to local bylaws.
5. How significant are the high rankings for lot size?
Ranking in the top 2% for lot size in Winnipeg is a standout feature. It means the property offers more outdoor space than the vast majority of homes in the city, which is a rare and valuable asset for gardening, expansion, or simply having more privacy.