Property Summary: 1099 Burrows Avenue
Section 1: Key Characteristics & Appeal
This is a compact, century-old home (built 1912) on a modest lot in the Burrows Central neighbourhood. Its key characteristic is its affordability and straightforward scale, with 885 sqft of living space and an unrenovated basement. The appeal lies in its position as an entry-point property. It suits first-time buyers or investors looking for a low-cost foothold in the Winnipeg market, where the purchase price and assessed value are significantly below the city-wide average. For the right buyer, its smaller size and lot can be seen as an advantage, offering lower maintenance costs and utility bills compared to larger, newer homes. A thoughtful perspective is that its "below average" rankings in land and living area for the street and city aren't necessarily drawbacks, but rather define its niche: it's a practical, no-frills option in a market where such affordability is increasingly rare. The recent sale at a price close to its assessed value suggests a transparent, market-ready transaction.
Section 2: Frequently Asked Questions
1. Is the small lot size a major concern?
While the lot is smaller than most in Winnipeg, it is more in line with the local neighbourhood average. This means less exterior upkeep, which can be a benefit for those seeking a low-maintenance property.
2. What does "basement, not renovated" imply?
It indicates the basement is in original or functional condition, not modernized. It provides utility space and storage potential but will likely require updates for finished living space. This is reflected in the home's accessible price point.
3. How does the age of the home affect it?
Built in 1912, it requires a buyer comfortable with the maintenance needs of an older structure. However, its age is typical for the immediate area, and it has clearly remained a viable and habitable property for over a century.
4. Who might this property not suit?
It may not suit buyers looking for move-in-ready, modern finishes, substantial outdoor space, or a large floor plan for a growing family. Its strengths are in affordability and simplicity.
5. The assessed value is $180k, but it sold for $200k. Why the difference?
A recent sale price can reflect current market demand, which may exceed the assessed value used for property tax calculations. The sale confirms the market value is close to the assessed value, which is a positive indicator of a fair assessment.