Property Overview
This 780 sqft home on Winona Street, built in 1912, presents a specific and compelling value proposition. Its assessed value of $257k sits comfortably below the Winnipeg city average, offering an accessible entry point into the sought-after Victoria West neighborhood. The lot size of 3,662 sqft is generous for the area, providing valuable outdoor space that many newer, denser developments lack. While the living space is compact compared to broader averages, this translates to a home that is simpler to maintain and more efficient to heat. Its classic 1912 construction suggests character and solid craftsmanship, but also indicates that updates and systems modernization may be a consideration for the buyer.
Key Characteristics & Appeal
The primary appeal of this property lies in its location and land value within a mature, established neighborhood. You are purchasing a stake in Victoria West, with a lot size that is on par with area norms, at a price point significantly below the citywide average. This setup is ideal for a first-time buyer, an investor, or someone seeking a lower-maintenance footprint without sacrificing yard space. It suits a pragmatic buyer who values neighborhood character and potential over sheer square footage. A less obvious perspective is that a smaller, older home on a good-sized lot can offer flexibility; it can be a comfortable long-term home with efficient use of space, or it could represent future potential for expansion or landscaping projects that would be impossible on a smaller parcel.
Frequently Asked Questions
1. Is the house too small?
At 780 sqft, the living area is below average for the city and neighborhood. This suits individuals, couples, or those comfortable with compact, efficient living. It emphasizes function over size and likely means lower utility costs.
2. Why is the assessed value lower than the city average?
The lower assessed value primarily reflects the home's smaller size and older age compared to the Winnipeg-wide average. It positions the property as a more affordable option within a desirable area, not necessarily an indicator of condition.
3. What does the 1912 build year mean for me?
Homes from this era often feature solid construction and unique character details. Buyers should budget for and prioritize a thorough inspection, as older plumbing, electrical, and heating systems may require updates or have been modernized over time.
4. Is the lot size a positive?
Yes. The 3,662 sqft lot is a key asset. It is around average for Victoria West but larger than many newer city lots, providing valuable private outdoor space—a rarity for homes at this price point in established neighborhoods.
5. How does it rank compared to immediate neighbors?
The home's living area and age are below the Winona Street average, meaning most direct neighbors have larger and newer homes. However, its assessed value and lot size are competitive on the street, suggesting it is priced in line with its specific attributes on this block.