Property Overview
This home at 174 Sinclair Street is a one-and-a-half storey character property built in 1910, situated on a generously sized lot in Winnipeg's Burrows Central neighbourhood. Its key features include a renovated basement and a detached garage. The appeal lies in a unique combination: it offers a very large, above-average lot for the area while presenting a lower-cost entry point into the market, as reflected in its assessed value. This creates a clear opportunity for value addition.
The property is best suited for a specific type of buyer. It would be ideal for a hands-on purchaser—perhaps a first-time buyer, an investor, or a renovator—who sees potential beyond the compact living space and is motivated by the land size and the chance to customize a character home over time. It’s less suited for someone seeking a modern, move-in-ready property with ample finished square footage.
Frequently Asked Questions
1. What does the "renovated basement" entail?
The listing notes the basement has been renovated, but specifics on the scope, finish quality, or whether it includes legal ceiling height are not provided. This is a key detail to verify, as it impacts usable living space and value.
2. How does the low assessed value affect property taxes?
A lower assessed value typically results in lower municipal property taxes, which can be a significant ongoing savings. However, it's important to understand that a future renovation or significant improvement could trigger a reassessment.
3. Is the large lot a potential advantage?
Absolutely. The lot is significantly larger than many in the immediate neighbourhood and across the city. This not only provides more outdoor space but also represents long-term value and potential, whether for expansion, gardening, or simply added privacy.
4. What are the considerations with a home built in 1910?
While full of character, a home of this age will likely have older systems (like plumbing and electrical) and require diligent maintenance. A thorough inspection is essential to understand the condition of the structure and the true scope of any modern updates needed.
5. Why is the sale price history relevant?
The home sold relatively recently, in May 2021. Understanding why it is back on the market so soon, and comparing the current asking price to that last sale price, can provide insight into market conditions and the seller's circumstances.