Property Overview: 138 Collegiate Street, Bruce Park, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1918, presents a classic character home opportunity on a standard city lot. Its key appeal lies in its above-average living space (1,143 sq ft) for its immediate street, offering more room than many direct neighbors. The home features a detached garage and a basement, though the basement is noted as not renovated.
The property suits two primary types of buyers. First, it is a practical entry point for a handy first-time buyer or investor comfortable with a home that requires updates, given its age and unrenovated state. Second, its assessed value is notably below averages for both the Bruce Park neighborhood and Winnipeg overall, which may attract value-conscious buyers looking for land and location potential. A thoughtful perspective is that while the home is older on a street of older homes, its living area ranking suggests it could have a more functional layout than some comparable properties, offering a relative sense of space. Its appeal is grounded in practicality and potential rather than turn-key readiness.
Section 2: Frequently Asked Questions
1. What does "not renovated" for the basement imply?
This typically indicates the basement retains its original or older finishes and systems. A buyer should budget for potential updates and include an inspection to assess the foundation, moisture control, and mechanical systems.
2. The assessed value seems very low compared to the city average. Why?
Assessed value for tax purposes is not market value. This low assessment primarily reflects the home's age, condition, and the lower average values in this specific part of Bruce Park. The sale price will be determined by the current market.
3. Is the land size a pro or a con?
At 2,793 sq ft, the lot is around average for the street but below average for the wider neighborhood. This means yard space is typical for the block but more compact than in other parts of Bruce Park. It's manageable for low-maintenance outdoor living.
4. Who might this property not suit?
It may not suit buyers seeking a modern, move-in-ready home without projects, or those prioritizing a large private yard. The need for updates and the older infrastructure should be anticipated.
5. How significant is the 1918 build date?
Very significant. A home of this age requires a diligent inspection for its structure, wiring, plumbing, and insulation. While it offers character, it also comes with the maintenance and update responsibilities typical of a century-old property.