Property Summary: 69 Regal Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a distinct value proposition centered on its generous lot and its position as an entry point into the established Varennes neighborhood. At 732 sqft, the living space is notably compact compared to most homes on its street, in the area, and across Winnipeg, indicating a cozy, efficient layout typical of its 1925 construction era. The assessed value of $237k is significantly below local and city averages, reflecting this smaller size and older vintage.
The primary appeal lies in its substantial 5,079 sqft lot, which is above average for the immediate street and neighborhood. This offers rare potential for expansion, gardening, or outdoor living in a mature community. The property suits first-time buyers or downsizers seeking an affordable foothold in a settled area, with the understanding that the home itself may require updates. It’s also a practical candidate for investors or handy buyers who see value in the land and are comfortable with a project, whether that’s renovating the existing structure or considering future redevelopment possibilities.
Section 2: Frequently Asked Questions
1. Is the smaller living area a major concern?
It depends on your needs. The home offers efficient, manageable space, which can mean lower utility costs and less upkeep. However, it may feel cramped for those needing multiple dedicated rooms or ample storage. The data clearly shows it's one of the smaller homes in a broad comparison.
2. Why is the assessed value so much lower than the averages shown?
The assessed value is influenced heavily by the home's smaller square footage and older age relative to comparables. It’s a formal valuation for tax purposes, not a market price, but it highlights this property's different starting point compared to larger, often newer homes in the rankings.
3. What does the lot size actually mean for me?
The lot is a key asset. Being larger than many neighbors' plots provides valuable outdoor space, greater privacy, and notable potential. This could accommodate a large deck, shed, or even an addition (subject to zoning and permits), which is a rare find at this price point in the city.
4. As an older home, what should I anticipate?
Built in 1925, the home likely has character but may also have aging components like the roof, plumbing, wiring, or windows. A thorough inspection is essential. The "Around Average" year-built ranking for the neighborhood suggests many nearby homes are from a similar era, so local contractors may be familiar with the style and common issues.
5. How should I interpret all these rankings and percentages?
They are contextual benchmarks. For example, being in the "Top 86%" for city-wide living area means 86% of comparable Winnipeg homes are larger—only 14% are smaller. This system quickly shows where the property stands relative to peers. Here, the story is a below-average-sized home on an above-average-sized lot for its immediate area, with a value to match.