Property Overview: 1098 Pritchard Avenue
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1943, presents a straightforward opportunity in Winnipeg's Burrows Central neighbourhood. Its key characteristic is its modest scale, featuring 609 square feet of living space and a 3,000 sqft lot. The home has a basement, but it is not renovated, and there is no garage or pool.
The primary appeal lies in its value proposition and potential. The sale price sits above the local street and neighbourhood averages, yet the home's assessed value is significantly below those same averages, which may attract buyers looking for a footprint in a established area without a premium entry price. It suits a specific type of buyer: an investor looking for a rental property with manageable upkeep, a hands-on first-time buyer willing to live in the space while gradually making improvements, or someone seeking a minimalistic, low-footprint living situation. A less obvious perspective is that its smaller size and lot, while below average statistically, could mean lower utility costs and less maintenance—a practical advantage for the right owner.
Section 2: Frequently Asked Questions
1. Why is the sale price higher than the assessed value?
Assessed value is for municipal tax purposes and often lags behind the current market, which is driven by what buyers are willing to pay. The sale price reflects recent demand for properties in this area.
2. What does "below average" for living area mean practically?
With 609 sqft, the living space is compact. It will likely feature a smaller number of rooms or combined living spaces, requiring efficient use of furniture and storage. This is a cozy layout, not suited for large households or those needing dedicated office or hobby rooms.
3. Is the unrenovated basement a major concern?
It depends on your plans and inspection. It means the basement is in original or utility condition, not finished as living space. An inspection is crucial to check for foundational integrity, moisture, and the state of mechanical systems like the furnace and water heater, which are often located there.
4. Who might this property not suit?
It would not suit buyers seeking a move-in ready home, those needing multiple bedrooms, families desiring a large yard, or anyone unwilling to take on potential renovation projects over time.
5. The lot size is noted as "below average" for the street. How significant is this?
The lot is smaller than many on Pritchard Avenue, but it is closer to the average for the broader Burrows Central area. This typically means a smaller backyard. For some, this is less maintenance; for others, it limits gardening or outdoor recreation space.