Property Summary: 49 Regal Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a compelling profile defined by spacious interiors within a more compact, established setting. Its primary strength is its generous 1,620 sqft living area, which ranks in the elite top 5% on its street and top 4% in the Varennes neighborhood, offering significantly more space than local averages. This is balanced by a 1919 build date and a 3,386 sqft lot, both of which are smaller and older than most comparable properties in the area.
The appeal lies in this specific combination: acquiring above-average square footage in a mature neighborhood, often at a relative value. The assessed value of $291k sits below the street and city averages, suggesting the price reflects the home's age and lot size rather than its interior volume. This property would suit practical buyers who prioritize interior space over a large yard or modern construction. It's ideal for someone looking for character and room to grow within a budget, without the premium attached to newer builds or expansive lots. A thoughtful perspective is recognizing this as a "value-play" on space in a settled community, where your investment is primarily in the home itself rather than the land.
Section 2: Frequently Asked Questions
1. Is the older build year a concern?
Yes, it requires consideration. Built in 1919, the home is notably older than most on the street and in the city. Buyers should prioritize a thorough inspection to understand the condition of major systems like wiring, plumbing, and the foundation, and budget for potential updates.
2. Why is the assessed value relatively low?
The assessed value of $291k is below area averages, likely reflecting the home's age and the smaller lot size. This can represent an opportunity, as the interior living space is well above average. It suggests the market is pricing the land and building age, not the square footage.
3. How does the smaller lot size impact the property?
The 3,386 sqft lot is below average for the street and city. This means smaller outdoor spaces and potentially less privacy compared to neighbors. However, it also translates to less yard maintenance, which could be a positive for some buyers.
4. Who would this property not suit?
It may not suit buyers seeking a modern, move-in-ready home without renovation projects, those who desire a large yard for gardening or recreation, or investors looking solely for newer properties with the highest potential for appreciation based on land value.
5. What does the "elite" living area ranking actually mean for daily life?
Ranking in the top 4-5% for space locally means you are getting a home with a floor plan significantly larger than most in the immediate vicinity. This typically allows for more flexible room usage, better storage, and a less cramped feeling compared to neighborhood norms, which is a key daily living advantage.