Property Overview
This one-and-a-half storey home on Cavell Drive in Bruce Park is a classic Winnipeg character property with modern updates. Built in 1927, it sits on a standard-sized lot for the street and features a renovated basement and a detached garage. Its living space is practical and in line with area averages. The home’s appeal lies in its established, quiet neighbourhood and the value derived from already-completed renovations, like the basement, which reduces immediate project lists for a buyer. It last sold in 2016.
This property would suit a first-time buyer or a downsizer looking for a manageable, character home in a mature neighbourhood without needing major renovations. It’s also a sensible fit for an investor seeking a stable rental in a central area, given its solid foundation and updates.
Key Details & FAQs
Key Characteristics & Appeal:
- Style & Lot: A 1927 one-and-a-half storey home with a detached garage, situated on a 3,989 sqft lot that is typical for Cavell Drive.
- Modernized Space: Includes a renovated basement, adding functional living space without the need for a future project.
- Neighbourhood Context: It fits comfortably within the Bruce Park area averages for lot size, age, and living area, indicating it’s a representative home for the community rather than an outlier.
- Value Perspective: The home’s assessed value ranks above average specifically on its own street, suggesting it is viewed favorably in its most immediate comparison group, which can be a point of stability.
Frequently Asked Questions:
1. How does the lot size compare to others?
The lot is just under 4,000 sqft, which is very close to the average for Cavell Drive itself and is a standard, manageable size for the neighbourhood.
2. What does "renovated basement" typically mean here?
While specific finishes aren’t listed, this indicates the basement has been modernized for living space, which is a significant advantage in a home of this era, as many still have original, undeveloped basements.
3. Is the living area small for the neighbourhood?
At 1,316 sqft, it is actually slightly above the average living area for both the street and Bruce Park, making it a comfortably sized home for the area.
4. Why is the assessed value much lower than the last sale price?
The assessed value (for tax purposes) is not an indicator of market value. The last recorded sale price in 2016 was $270,000, which is a more relevant historical benchmark, though current market conditions will determine today’s value.
5. What type of buyer should consider this home?
It’s well-suited for those seeking a move-in-ready character home without a massive yard to maintain. Its above-average assessment on its street and renovated basement make it particularly appealing to buyers who want a sensible, updated property in a mature neighbourhood without immediate upgrade costs.