Property Overview: 1061 Manitoba Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a classic one-and-a-half storey home in Burrows Central, built in 1922. It sits on a modest, manageable lot just under 3,000 sq ft and offers 920 sq ft of living space. The home features a detached garage and a basement that is present but not renovated. Its most defining characteristic is its value proposition: with a recent sale price of $20,500 and a low assessed value, it represents one of the most accessible entry points into Winnipeg’s housing market.
The appeal lies in its straightforward potential. It’s a property for a buyer who sees the foundation, not the finish. The lot size is typical for the street and area, offering room for outdoor use without being burdensome to maintain. Its price point is significantly below the city-wide average, creating a rare low-barrier opportunity for a first-time buyer, an investor looking for a rental property with a minimal initial outlay, or someone seeking a modest footprint. It suits a hands-on buyer comfortable with a project, as the unrenovated basement and age of the home suggest updates will be needed over time. A less obvious perspective is that its very modest scale and cost could allow a buyer to invest more thoughtfully in quality, targeted renovations over the years, building sweat equity without the pressure of a large mortgage.
Section 2: Frequently Asked Questions
1. What does “basement, not renovated” typically mean?
It indicates the basement is unfinished or in original condition. You should expect a concrete floor, exposed foundation walls, and basic mechanical systems (furnace, water heater). It’s usable for storage and laundry but would require investment to become finished living space.
2. How does the low assessed value impact property taxes?
A lower assessed value generally results in lower municipal property taxes compared to similar-sized homes with higher assessments. This is a key ongoing cost savings for the owner.
3. Is the small lot size a disadvantage?
It depends on your priorities. While below the city average, the lot is very typical for the immediate neighbourhood and street. It requires less maintenance and landscaping effort, which can be an advantage for a first-time owner or investor.
4. The home is over 100 years old. What should I be prepared for?
While the structure has proven durable, major systems like plumbing, electrical, and the roof may be older or have been updated piecemeal. A thorough inspection is essential to understand the condition and prioritize any necessary repairs for safety and efficiency.
5. Who are the most likely buyers for a property like this?
This property is most suited to first-time homebuyers seeking an entry point, practical investors looking for a rental property with a low purchase price, or downsizers wanting a minimal-maintenance asset. It is less suited for those seeking a move-in-ready home or maximum square footage.