Property Overview: 1078 Aberdeen Avenue
Key Characteristics & Appeal
This one-and-a-half storey home on Aberdeen Avenue is a property defined by its land value and potential. Built in 1910, it offers a modest 1,056 sqft of living space, which is typical for the area. The lot size of 2,283 sqft is notably smaller than most in Winnipeg, but it is efficiently proportioned for the neighbourhood. A key feature is the detached garage, adding practical storage or workshop space.
The primary appeal lies in its position as a land-value opportunity in Burrows Central. The home’s assessed value ranks above average for its street, suggesting the property itself is viewed favorably relative to its immediate peers. It last sold in 2020 for $23,500, indicating a market for value-conscious buyers or investors. The unrenovated basement presents a blank canvas for future development.
This property would suit a practical buyer looking for an entry point into homeownership with a focus on the asset rather than move-in-ready finishes. It could also appeal to an investor seeking a rental property with a stable assessment history or a buyer interested in a long-term, incremental renovation project. The smaller lot means less maintenance, which can be a benefit for those seeking simplicity.
Frequently Asked Questions
1. What does "above average assessed value for the street" actually mean?
It means that, compared to similar properties on Aberdeen Avenue, this home’s official city assessment is higher than most. This can reflect the property’s condition, improvements, or simply its specific valuation, but it doesn't directly predict the sale price.
2. Is the small lot size a disadvantage?
While smaller than the city average, the lot is not atypical for the central neighbourhood. It can be an advantage for those who want less yard maintenance and a more efficient use of space.
3. What is implied by an "unrenovated" basement?
This typically means the basement is in original or functional condition but hasn’t been modernized or finished. It offers utility space and storage, with the potential for future development subject to permits and inspections.
4. How significant is the detached garage?
In older neighbourhoods, a detached garage is a valuable practical asset for vehicle storage, a workshop, or extra storage. It adds functionality that many similar properties may lack.
5. Given the sale history, is this a stable investment?
The property increased in value between its 2016 and 2020 sales. This trend, along with its steady assessment, suggests a stable footing in the local market, but as with any property, broader market conditions will apply.