151 Collegiate Street

Property Overview: 151 Collegiate Street, Bruce Park, Winnipeg

Section 1: Key Characteristics & Appeal

This is a classic one-and-three-quarter storey home built in 1918, situated on a standard city lot in Bruce Park. Its primary appeal lies in its solid, above-average living space (1,204 sq ft) for the immediate street and its historically low acquisition cost, as evidenced by its last sale price and assessed value. The home presents a clear value proposition for a specific buyer: it is an entry-point property or a land investment opportunity in a mature neighbourhood.

The house suits two main types of buyers. First, it is a project for a hands-on buyer or investor looking for a home with original character that requires modernization, as the basement is noted as "not renovated" and there is no garage. Second, given the land value in the area, it could appeal to those with a longer-term view on property value, considering the potential for land assembly or future redevelopment. A less obvious perspective is that, while its assessed value is below average for both the neighbourhood and city, its living area is actually more spacious than many direct neighbours, suggesting the existing structure has good bones relative to other homes on the street.

Section 2: Frequently Asked Questions

1. What does "one & 3/4 storey" mean?
This is a common Winnipeg architectural style where the second floor has sloped ceilings following the roofline, with full-height walls only in the centre of the rooms. It often provides charming, cozy bedrooms but with less usable square footage than a full two-storey home.

2. Why is the sale price so much lower than the city-wide average?
The last recorded sale was in 2017 for $19,500, which reflects the home's condition and size at that time. The current assessed value of $26,100 remains well below Winnipeg averages, indicating it is likely still a fixer-upper or valued primarily for its land.

3. How does the lot size compare?
At 2,712 sq ft, the lot is around average for Collegiate Street but below average for the broader Bruce Park area. This is a standard footprint for older core neighbourhoods.

4. What can the rankings tell me about this property?
The rankings compare this home to others on the same street, in Bruce Park, and city-wide. Key takeaways: it offers more living space than most on its street (Top 18%), but is an older home on a smaller lot compared to the rest of the neighbourhood.

5. Is this a good investment for the future?
Its location in a mature neighbourhood with older housing stock can present opportunities. Buyers should consider the long-term potential of the land itself, the costs of necessary renovations, and the trend of infill development in Winnipeg's established communities.