Property Overview: 1092 Pritchard Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1915, presents a straightforward opportunity centered on its land and location. Its primary appeal lies in its above-average living space (1,179 sq ft) for the immediate area and its very modest price point, as evidenced by the recent sale. The lot size is compact for the city but typical for the Burrows Central neighbourhood.
The property suits practical, value-focused buyers. It would be a match for an investor looking for a rental property with a low entry cost, a handy homeowner willing to take on a project (as the basement is noted as not renovated), or a first-time buyer seeking the most affordable path to homeownership. Its assessed value ranks well above average for the street, suggesting it may be viewed as a solid asset within its specific local context. A less obvious perspective is that a home of this age and price in an established neighbourhood could represent a "blank slate" for someone more interested in the potential of the location than the existing structure, with the understanding that updates and maintenance will be required.
Section 2: Frequently Asked Questions
1. What is the actual condition of the house?
The listing explicitly notes the basement is "not renovated," which suggests it may be in original or utilitarian condition. For the rest of the home, given its age and sale price, prospective buyers should budget for updates and plan for a thorough inspection.
2. Why is the sale price so much higher than the assessed value?
Assessed value is for municipal tax purposes and often lags behind market value, especially in active markets. The sale price reflects what a buyer was willing to pay recently, which was significantly above both the assessed value and the average for similar homes on the street.
3. Is the lot size a disadvantage?
At just over 3,000 sq ft, the lot is smaller than the Winnipeg average but is typical for the Burrows Central area. This can mean lower maintenance and is standard for the neighbourhood, but it offers less private outdoor space than you'd find in suburban areas.
4. What does the "above average" ranking for living area mean?
This means that compared to similar homes on Pritchard Avenue and in Burrows Central, this house offers more interior space. For the price, you are getting more square footage than many immediate neighbours, which is a key value point.
5. What should I consider about a 1915-built home?
Homes of this age have character but require diligent attention to aging components like wiring, plumbing, insulation, and the foundation. The potential for historical charm comes with the responsibility for ongoing maintenance and modernization.