Property Overview & Key Characteristics
This one-storey home at 1028 Mountain Avenue in Winnipeg's Burrows Central neighbourhood is a property defined by its land and location. Built in 1951, the 1,131 sqft house sits on a substantial 6,418 sqft lot, which is notably larger than most in both the immediate area and the wider neighbourhood. The home features a detached garage and a basement that is present but not renovated.
Its primary appeal lies in its land value and potential. The lot size ranks in the top 5% for Mountain Avenue and the top 3% within Burrows Central, offering rare space for expansion, gardening, or outdoor activities in a mature setting. While the living area is average and the house itself may require updates, the assessed value is above average for its local context, suggesting the property is valued more for its land and location than its current structure.
This property would suit a value-conscious buyer, investor, or builder looking for a solid footprint in a mature neighbourhood. It’s ideal for someone who sees potential in the generous lot and is prepared to make improvements to the existing home, or who views it as a long-term land investment. It is less suited for buyers seeking a move-in-ready or modern home without renovation plans.
Frequently Asked Questions
1. What does the "above average" assessed value locally, but "below average" citywide, indicate?
It highlights that property values in this specific area are generally lower than the Winnipeg average. However, within Burrows Central and on Mountain Avenue, this property is assessed higher than many of its direct peers, reinforcing that it is considered a stronger asset in its local market context, likely due to its lot size.
2. The basement is listed as "Yes, not renovated." What should I expect?
You should anticipate a functional but unfinished space. It likely has foundational utility (like laundry or storage) but lacks modern finishes, proper insulation, or legal living space. Budgeting for significant updates would be necessary to utilize it as comfortable living area.
3. How significant is the lot size, really?
Very. A lot over 6,400 sqft in this area is uncommon, placing it in the elite tier locally. This isn't just a slightly bigger yard; it provides tangible options for additions, building a garage or workshop, or simply enjoying more private outdoor space than most nearby properties offer.
4. The home sold recently in February 2023. Does that matter?
It indicates the property has changed hands recently. A buyer should investigate why it is back on the market so soon—whether it was an investment flip, a change of circumstances for the owner, or another reason. It also provides a very recent market price point for comparison.
5. Who are the most likely neighbours or competing buyers for this property?
Given the profile, you may be competing with practical homeowners who value space over a turn-key home, small-scale developers or builders attracted by the lot's potential, and long-term investors looking for a property with fundamental strengths (land, location) that can appreciate or be developed over time.