1087 Pritchard Avenue

Property Overview: 1087 Pritchard Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This two-storey home, built in 1914, presents a compelling mix of space, value, and potential. Its standout feature is its generous living area of 1,908 sq ft, which ranks in the top 2% of similar homes on its street and the top 1% within the Burrows Central neighbourhood. This offers a rare amount of interior space for the area. The property sits on a 4,210 sq ft lot, which is also larger than most nearby lots. While the basement is noted as unrenovated and there is no garage, the home’s last sale price in 2022 was well above the local average, indicating strong perceived value.

The appeal lies in securing a character home with ample room for a growing household or for those needing flexible space, all at an assessed value that remains modest relative to the city-wide average. It suits buyers who prioritize interior square footage over modern turn-key finishes, and who see potential in a property where the value has historically been driven by its size and location rather than recent upgrades. It’s a practical choice for a hands-on buyer looking to put their own stamp on a home with solid fundamentals.

Section 2: Frequently Asked Questions

1. What does "above average" for land area but "below average" city-wide mean?
This highlights the neighbourhood context. The lot is larger than most in Burrows Central, offering more outdoor space locally. However, lots in newer suburban areas of Winnipeg are typically larger, which explains the lower city-wide ranking.

2. The assessed value seems very low compared to the 2022 sale price. Why?
Municipal assessed value for taxation purposes often lags behind market sale prices, especially in a moving market. The 2022 sale price of $320k is the more current indicator of the home’s market value.

3. What are the implications of the "unrenovated" basement?
This suggests the basement is in original or functional condition but may require updates for modern living. It represents both a cost consideration and an opportunity to customize the space to a new owner’s needs.

4. The home is older than average for the city. What should I consider?
Built in 1914, the home will have character but may require careful attention to aging components like wiring, plumbing, and insulation. A thorough inspection is essential to understand the condition and any needed investments.

5. Who would this property not suit?
It may not be ideal for buyers seeking a low-maintenance, modern home with updated amenities like a finished basement or garage. It’s best for those comfortable with some degree of project or maintenance work.