Property Overview
This two-storey home on a large 7,157 sqft lot presents a unique value proposition in Winnipeg's Burrows Central neighbourhood. Built in 1947, it features 1,560 sqft of living space and a renovated basement. The property includes a detached garage and does not have a pool.
Key Characteristics & Appeal
The primary appeal of this property lies in its exceptional land size and the value it represents within its immediate context. The lot is among the top 2% on College Avenue and the top 1% within Burrows Central, offering rare potential for expansion, gardening, or outdoor space. While the home itself is older, its living area is notably spacious for the neighbourhood, ranking in the top 3% locally. The combination of a renovated basement and a detached garage adds practical functionality. The assessed value is elite for the area, yet the last sale price was significantly lower, suggesting a complex valuation history that may indicate an opportunity for a buyer comfortable with due diligence.
This home would best suit a value-conscious buyer or investor who prioritizes land over a modern build. It’s ideal for someone who sees potential in the substantial lot size and is prepared for the realities of maintaining a home from the 1940s. It could appeal to a hands-on owner looking to put their own stamp on a property with strong foundational metrics in the community.
Frequently Asked Questions
Q: What does the "renovated basement" entail?
A: The listing confirms the basement has been renovated, but the specific scope, quality, and permits for this work are not detailed. A professional inspection is recommended to understand the finish and condition fully.
Q: Why is there a significant gap between the last sale price and the current assessed value?
A: The sold price from 2019 is substantially lower than the current assessed value, which ranks in the top 4% for the area. This discrepancy warrants investigation into the assessment basis, potential changes made to the property, or market shifts in the neighbourhood.
Q: How does the age of the home affect things?
A: Built in 1947, the home is above average in age for its street but below average city-wide. Buyers should budget for potential updates to major aging components like plumbing, electrical, or the roof, while also appreciating the character and build quality often found in houses of this era.
Q: Is the large lot size typical for the area?
A: No, it is exceptional. The lot is vastly larger than the average for both College Avenue and the Burrows Central neighbourhood, which is this property's most distinguishing and valuable feature.
Q: What is the significance of the "Elite" and "Top %" rankings provided?
A: These rankings compare this specific property against similar homes on its street, in its neighbourhood, and across Winnipeg. They are useful for understanding how its key metrics—like lot size, living space, and value—truly stack up against the competition, highlighting its relative strengths locally.