Property Overview
This one-and-a-half storey home, built in 1913, is situated on a standard city lot in the Burrows Central neighbourhood. Its key appeal lies in its position as an affordable, no-frills entry point into the Winnipeg market. The 875 sqft living area is compact, and the home retains its original, unrenovated basement. A detached garage provides practical storage or workshop space. The lot size, while below the city average, is typical for the area and street.
This property would primarily suit a first-time buyer, an investor, or a hands-on renovator comfortable with a project. Its very low sale price history and assessed value signal a home in need of modernization, offering potential for equity growth through improvements. A less obvious perspective is its potential for a land-holding strategy; the lot, while not large, represents a stable asset in an established neighbourhood where the intrinsic land value forms a solid base. It’s a practical choice for those whose priority is securing a physical address and land ownership over immediate move-in condition.
Frequently Asked Questions
1. What does "unrenovated basement" typically mean for a house of this age?
It generally indicates the original foundation, layout, and mechanical systems (like wiring and plumbing) are likely still in place. It may be suited for storage or laundry but would require significant investment to be finished as modern living space.
2. How does the very low past sale price affect future value?
It establishes a low baseline, which can be advantageous for future appreciation if improvements are made. However, it also reflects the home's condition at that time, so a current appraisal and inspection are essential to understand its present market value.
3. Is the smaller living area a major drawback?
It depends on your needs. For a single person, couple, or small family, it can be efficient and cost-effective to heat and maintain. The layout and flow of the rooms will be more important than the square footage alone.
4. The home is older than average for the city. What should I be most concerned about?
Focus on the major systems: the roof, foundation, and wiring/plumbing updates. An inspection is crucial to identify any structural issues or outdated materials (like knob-and-tube wiring) that could require immediate investment.
5. Who is this property not suited for?
It's likely not a fit for buyers seeking a turn-key, modern home or those unable to budget for ongoing maintenance and potential renovations. The compact size may also not suit those needing multiple dedicated rooms or extensive indoor space.