Property Overview: 125 Stradford Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in the Buchanan neighbourhood presents a straightforward opportunity centered on its land and value. Built in 1973, the house itself is modest, with 924 sqft of living space and an unfinished basement. It does not have a garage or pool. The property’s most notable characteristic is its assessed value, which is significantly below averages for the street, neighbourhood, and city, suggesting a lower property tax burden.
Its primary appeal lies in its potential as a land-value play or a foundational project. The lot, while below area averages in size, offers space for future expansion or landscaping. This home would suit a first-time buyer comfortable with a property requiring updates, an investor looking for an entry point into the market, or someone specifically seeking a lower-cost base with the option to renovate over time. It’s a practical choice for those who prioritize financial accessibility and long-term potential over immediate move-in condition.
Section 2: Frequently Asked Questions
1. Is this a fixer-upper?
Yes. The listing notes the basement is unfinished and not renovated. Buyers should budget for updates and modernizations to both the living space and any unfinished areas.
2. Why is the assessed value so much lower than the city average?
The assessed value is based on municipal evaluation, which considers factors like the home's size, age, and condition relative to its peers. The significantly below-average assessment here reflects the home's modest specifications and likely indicates room for value growth through improvements.
3. What is the neighbourhood like?
The home is in Buchanan. The provided data shows that for a home built in 1973, its year built is actually above average for this specific neighbourhood, suggesting it sits among well-established properties.
4. How does the lot size compare?
The land area of approximately 3,958 sqft is below the average for Buchanan. This means outdoor space is more limited than many neighbouring properties, but it remains a standard city lot.
5. What are the realistic comparisons for this property?
The listing references nearby and similarly valued homes, such as 11 Capulet Crescent in the same neighbourhood. That home has a very similar living area and year built but a higher assessed value, offering a useful benchmark for what slightly updated or different configurations in the area are valued at.