Property Overview: 182 Collegiate Street, Bruce Park, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1918, presents a straightforward opportunity centered on its land and location. The 1,100 sqft living space is notably above average for its immediate street, offering more interior room than many direct neighbors. Its primary characteristic is the 3,254 sqft lot, which is a competitively sized parcel for the Bruce Park area.
The appeal lies in its position as a potential canvas. The home itself, with an unrenovated basement and no garage, is suited for a buyer comfortable with a project or one who values the land itself. Its assessed and recent sale value are significantly below averages for both the wider neighbourhood and city, which can indicate an entry point into the market. This property would suit a practical buyer, such as a first-time investor looking for a hold property, a homeowner with renovation skills seeking a footprint to personalize, or someone prioritizing lot size over move-in-ready condition. A less obvious perspective is that its "below average" valuation for the area creates a buffer, potentially offering more relative stability in market shifts compared to premium-priced homes.
Section 2: Frequently Asked Questions
1. Is the price reflective of the condition?
Based on the provided data, the recent sale price is considerably lower than both the neighbourhood and city averages. This typically suggests the price accounts for the home’s age (108 years) and the noted lack of renovations, positioning it as a value-play for the lot and location.
2. How does the lot size compare?
The lot is approximately 3,254 sqft. This is around average for Collegiate Street but below the average for the larger Bruce Park area, where lots tend to be bigger. It is a manageable size for maintenance.
3. What does the "one-and-a-half storey" building type mean?
This classic Winnipeg style typically features a main floor with living areas and a second floor under a sloped roof, often with cozier, dormered bedrooms. It reflects the home's 1918 character.
4. Has the property value been stable?
The data shows a significant difference between the 2016 sale price ($190k) and the 2024 sale price ($23.5k). This extreme change strongly suggests a major shift in the property's status or circumstances between those dates, which a buyer would need to investigate thoroughly.
5. What is the immediate neighbourhood like?
The listing shows several nearby homes on the same block, indicating a settled, close-knit streetscape. The similar assessed values of nearby properties suggest a consistent character for this specific part of Bruce Park.