Property Overview: 156 Collegiate Street, Bruce Park, Winnipeg
Section 1: Key Characteristics & Appeal
This home is a classic one-and-a-half storey character property built in 1918, situated on a standard city lot in Bruce Park. Its key features include a detached garage and an unrenovated basement. The primary appeal lies in its position as a relatively affordable entry point into the Winnipeg market, particularly for a character home. With a living area of 974 sq ft, it offers a compact, manageable footprint.
The property’s standout characteristic is its land value and location context. While the house itself is modest in size and age compared to the broader city, it holds its own very well on its own street. Its lot size, year built, and living area are all around the average for Collegiate Street, suggesting it fits seamlessly into a streetscape of similar vintage homes. This creates a consistent neighbourhood character that many find desirable. The home would suit a first-time buyer, an investor, or someone seeking a lower-maintenance character property without the scale of a larger heritage home. It presents a clear opportunity for someone comfortable with a home that may require updates, offering the chance to add value over time.
Section 2: Frequently Asked Questions
1. Is the basement finished or usable for storage?
The basement is noted as "not renovated," which typically means it is unfinished. It likely provides essential mechanical space and potential for storage, but not livable finished areas.
2. How does this property compare to others in Bruce Park?
The data shows this home is below the neighbourhood averages for lot size, living area, and year built. This indicates it is among the more compact and older homes in Bruce Park, which often translates to a more accessible price point within the area.
3. What is the significance of the assessed value versus the past sale price?
The municipal assessed value is $21.7k, which is for taxation purposes and is typically far below market value. The home last sold in 2019 for $210k, which is a more relevant indicator of its market price.
4. The home is over 100 years old. What should I consider?
While the structure has proven its durability, a home of this age will likely have original systems. A thorough inspection is essential to understand the condition of the foundation, roof, wiring, and plumbing. The unrenovated state means major updates have not been done recently.
5. The lot seems smaller than others nearby. Is that a drawback?
At 2,712 sq ft, the lot is around average for Collegiate Street but below the Bruce Park average. This can be an advantage for buyers seeking lower outdoor maintenance while still having a private yard space. It contributes to the home's manageable scale.