Property Overview
This one-and-three-quarter storey home on Gallagher Avenue is a classic Weston neighbourhood character home with practical potential. Built in 1913, it sits on a generously sized lot that ranks within the top quarter for size on its street. While the living space is functional, the home’s standout feature is its remarkably low municipal assessed value, which places it in the top 5% for all of Winnipeg. This suggests significant room for value growth, especially for a buyer willing to invest in updates. The property last sold in 2017, and the detached garage adds practical storage or workshop space.
Its appeal lies in a combination of a sizable lot in an established area and a very low tax assessment, presenting a clear value-opportunity proposition. It would suit a hands-on buyer looking for a character home to gradually renovate, an investor seeking a property with strong assessed-value upside, or someone prioritizing lot size over a move-in-ready interior. The unrenovated basement and older systems mean it’s likely best for those with a renovation budget and vision.
Frequently Asked Questions
1. What does the low assessed value actually mean for me?
A low municipal assessment typically results in lower annual property taxes, which is an immediate financial benefit. It also often indicates the assessed value hasn't caught up to market potential, which can point to an opportunity for value increase through ownership and improvements.
2. Is the "one-and-three-quarter storey" style a concern?
Not inherently. This classic Winnipeg design often features smaller, cozier rooms on the upper floor, which can be part of its charm. It’s wise to view the layout in person to ensure it meets your space needs, as the second floor may have sloped ceilings or unique room shapes.
3. The home is over 110 years old. What should I be most cautious about?
While the lot size and value are positives, the age necessitates a thorough inspection. Key focuses should be the foundation, the state of the roof, wiring, plumbing, and heating systems. The listing notes the basement exists but is unrenovated, so its condition and any moisture issues are critical to evaluate.
4. How does the lot size compare to nearby homes?
The lot is 3,761 square feet, which is larger than 75% of the lots on Gallagher Avenue. This is a significant asset, offering more outdoor space, potential for gardening, or future expansion than many neighbouring properties.
5. The home last sold in 2017. Is that a red flag?
Not necessarily. A seven-year ownership period is reasonably common. It could indicate a stable ownership situation. However, it’s prudent to understand why the owners are selling now and to research what changes, if any, were made during their tenure.