137 Collegiate Street

Property Overview: 137 Collegiate Street, Bruce Park, Winnipeg

Section 1: Key Characteristics & Appeal

This is a classic one-and-a-half storey home built in 1918, situated on a standard city lot in the Bruce Park neighbourhood. Its key appeal lies in its relative space efficiency and its position as a value-conscious entry point into the Winnipeg market. With 1,127 sqft of living area, the home offers more interior space than many directly comparable houses on its street, making it a practical choice for its category.

The property suits a specific type of buyer: those who are land-value focused, comfortable with a home requiring updates, and who prioritize location affordability over modern finishes. The detached garage adds functional value, while the unrenovated basement presents a blank canvas for future improvement. A thoughtful perspective is that its below-average assessed value, both for the street and the city, suggests a potential opportunity for equity growth through renovations, especially given the home's above-average living area for its immediate vicinity. It’s a straightforward property that appeals to pragmatic buyers, investors, or handy first-timers looking for a footprint to customize over time.

Section 2: Frequently Asked Questions

1. What does "one-and-a-half storey" typically mean for a 1918 home?
This style usually features a main floor with principal rooms and a second floor with sloped ceilings under the roofline, often containing bedrooms. It’s a classic Winnipeg design, but ceiling heights and room layouts on the upper level can be cozier than in a full two-storey.

2. The assessed value seems very low. What does this indicate?
The assessed value is for taxation purposes and is often lower than market value. That it ranks below average for the area suggests the city assessor views the property’s current condition and features as modest compared to neighbours. This can mean lower property taxes, but buyers should rely on a market evaluation for the true purchase price.

3. How significant is the unrenovated basement?
This is a major consideration. It means the basement is in original or utilitarian condition, likely with older mechanical systems (like the furnace or wiring). It presents both a cost for eventual updating and an opportunity to customize the space to your needs without undoing recent, potentially subpar, renovations.

4. The home sold recently in 2020. Is that a concern?
Not inherently. The previous sale price provides a recent market data point. The reasons for a resale after a few years can vary widely—from an investor flipping to a change in an owner’s circumstances. It’s a point to discuss with your agent to understand the context.

5. How does the lot size compare?
At 2,712 sqft, the lot is around average for Collegiate Street but below average for both the wider Bruce Park area and Winnipeg overall. This means outdoor space is typical for the immediate block but more compact than in many other neighbourhoods, aligning with an urban, lower-maintenance yard profile.