Property Overview: 1004 Aberdeen Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1914, presents a straightforward opportunity in the Burrows Central neighbourhood. Its key appeal lies in its position as a land-value proposition with a functional living space. The 3,050 sqft lot is notably larger than many city-wide properties and is above average for the immediate street, offering room for expansion or outdoor use. With 1,020 sqft of living area, the house itself provides essential space and is typical for similar homes in the area.
The property suits practical buyers looking for an entry point into the market, an investor considering a hold-and-renovate strategy, or someone seeking a lower-maintenance footprint. Its assessed value is consistently below the Winnipeg average, indicating a potentially accessible price point. A thoughtful perspective is that while the unrenovated basement and lack of garage are noted drawbacks, they also mean the home hasn't been subject to potentially dated or DIY renovations, offering a cleaner slate for a buyer's own vision. The sales history shows significant price variability, underscoring the importance of understanding the property's current condition and the neighbourhood's market trends.
Section 2: Frequently Asked Questions
1. What does "for land value" really mean for this property?
It suggests the market price is likely influenced more by the lot size and location than the current state of the 1914-built structure. This can be an opportunity for future development but also means the existing home may require updates.
2. How should I interpret the large difference between the assessed value (~$18,600) and past sale prices?
Municipal assessed value for tax purposes is not market value. The past sales (e.g., $160k-$170k in 2016, $20.8k in 2023) indicate market fluctuations. The 2023 sale price appears to be a significant outlier and should be investigated; it may have been a non-arms-length transaction or sale under unique circumstances.
3. Is the unrenovated basement a major concern?
It depends on your plans and budget. It presents both a drawback in immediate finish and a potential opportunity. It allows for customization but will require inspection for moisture, foundation integrity, and necessary upgrades to meet modern standards if finished.
4. The home ranks "around average" for most metrics in Burrows Central. What does that indicate?
It shows the property is very typical for this specific neighbourhood. You are not paying a premium for standout features nor getting an extreme fixer-upper compared to nearby homes. It represents a core, standard offering for the area.
5. Who might this property not suit?
It is likely not suitable for buyers seeking a move-in-ready home with modern finishes, those requiring ample parking or a garage, or anyone hesitant about potentially managing renovations or older home maintenance.