Property Overview: 271 Selkirk Avenue, Winnipeg
Key Characteristics & Appeal
This is a classic, century-old two-storey home in Winnipeg's William Whyte neighbourhood, built in 1906. Its primary appeal lies in its solid foundation and significant value proposition. The home sits on a generously sized lot (2,688 sqft), which ranks in the top tier for the area, offering potential for outdoor space or future expansion. With 1,296 sqft of living space, it provides ample room. The assessed value of $110k is notably low for the city, ranking in the top 1% of Winnipeg, which suggests a very accessible entry point into homeownership or an investment opportunity. The property includes a basement, though it is noted as not renovated.
This home would suit a specific type of buyer: the practical renovator or value-focused investor. It’s ideal for someone with a vision and the willingness to take on updates, seeing the inherent value in the large lot and historic structure rather than a move-in-ready finish. It also represents a strategic entry into the market for those priced out of more polished neighbourhoods, offering a chance to build equity through improvements. A less obvious perspective is its potential appeal to someone interested in the authentic, historic fabric of Winnipeg, willing to steward a piece of its early 20th-century residential architecture.
Frequently Asked Questions
1. What does "basement, not renovated" typically mean?
It indicates the basement exists but is in original or unfinished condition. Buyers should budget for potential updates to make it a comfortable living or storage space and consider inspections for foundational and moisture-related issues common in homes of this era.
2. Why is the assessed value so much lower than nearby sales?
The assessed value is for municipal tax purposes and can lag behind market trends. The last recorded sale was in 2021 for $99k. The low assessment highlights the property's value basis but the market price will be determined by current demand, condition, and comparable sales.
3. What are the implications of a 120-year-old home?
It means character and sturdy construction, but also necessitates a thorough inspection. Key focus areas should include the foundation, roof, plumbing, electrical systems (which may need upgrading), and historical materials like original plaster and lathe.
4. Who is the typical buyer in the William Whyte area?
The area attracts first-time homebuyers, investors, and renovators looking for affordability and potential. It's a neighbourhood in transition, so community engagement and a pragmatic view of local amenities are important.
5. How significant is the large lot size?
The lot size is a major asset. It offers more privacy and outdoor space than many newer infill properties and provides long-term flexibility, whether for gardening, adding a garage, or future development, subject to zoning bylaws.