775 Burrows Avenue

Property Overview

This is a classic one-storey home on a standard city lot in Winnipeg's Burrows Central neighbourhood. Built in 1908, the 754 sqft house presents a straightforward opportunity. Its key appeal lies in its land value and potential, rather than its current structure. The property suits buyers looking for an affordable entry into homeownership, investors considering a hold-and-renovate or hold-and-redevelop strategy, or those seeking a modest footprint with outdoor space. It’s important to note the home has an unrenovated basement and no garage.

A thoughtful perspective here is to view the home through the lens of its lot and location. While the living area is compact and the structure is older, the land size is typical for the immediate area and represents the core asset. The very low assessed value signals this is priced as a land play or a major project home, not a move-in-ready property. It would appeal to a pragmatic buyer who sees the long-term value in the location and is prepared for a significant renovation or rebuild.

Frequently Asked Questions

What does "below average" in the rankings actually mean for a buyer?
It quantifies how this property compares to others. For example, its Year Built ranking (Top 80% on its street) means about 80% of homes on Burrows Avenue are newer. This isn't necessarily negative; it confirms the home's character as one of the older, more established properties on the block, which can inform renovation expectations and potential heritage considerations.

Is the $80k sale price from 2022 a useful indicator today?
It serves as a recent benchmark, confirming the property's positioning in the market as a lower-priced, value-driven opportunity. However, market conditions have likely shifted since then, so it's a starting point for research, not a definitive current value.

The assessed value is very low compared to city averages. Why?
The assessed value is for taxation purposes and heavily reflects the current state and size of the home. The significant gap between its assessed value (~$11k) and its last sale price ($80k) highlights that the market price is primarily paying for the land and location potential, not the existing structure.

What are the implications of an "unrenovated" basement?
This typically indicates original or dated conditions, which may include low ceilings, older foundation materials, and basic utilities. It should be inspected for moisture issues, but it also represents blank-canvas potential for future development, subject to local building codes.

Who are the most likely buyers for this type of home?
First-time buyers or downsizers with a tight budget and a willingness to renovate over time; practical investors looking for a rental property with a low entry cost; or builders/developers who see future potential in the lot, given its standard size and central location.