Property Overview
This is a 119-year-old, one-and-a-half storey home on a standard city lot in Winnipeg's Burrows Central neighbourhood. Its primary appeal lies in its land value and location, presenting a clear opportunity for buyers focused on fundamentals rather than turn-key condition. The home itself is modest, with 840 sqft of living space and an unrenovated basement. It lacks a garage and pool, positioning it firmly as a value-driven proposition.
The property would suit practical buyers looking for an entry point into the market, investors considering land value or redevelopment potential, or those comfortable with a home that requires updates. Its assessed and recent sale values are significantly below the citywide average, highlighting its role as an affordable option. A thoughtful perspective is that while the home is older and smaller than many, its lot size is quite typical for the central area, offering a balance of urban proximity and space that can be hard to find at this price point.
Frequently Asked Questions
1. What does "one-and-a-half storey" mean for this home?
This style typically features a main floor with living areas and a second floor under sloped roof lines, often creating cozy bedrooms with reduced ceiling height in parts. For a 1907 home, it confirms the classic character but may mean less conventional room layouts.
2. The assessed value seems very low. Why is that?
The assessed value reflects the market value estimate for taxation purposes. A value this far below the Winnipeg average is directly tied to the home's age, size, and condition. It indicates the lot and location hold more value than the current structure.
3. Is the unrenovated basement finished or usable?
The listing specifies it is "not renovated," which generally means it is in original, likely unfinished condition. Buyers should budget for any desired upgrades and consider inspections for moisture or foundational concerns common in century-old homes.
4. Who might be interested in a property like this?
It appeals to first-time buyers prioritizing location over move-in readiness, investors evaluating the land's potential, or hands-on owners who see value in personalizing a historic home over time. Its price allows for renovation budgeting.
5. How does the lot size compare to the area?
At 3,547 sqft, the lot is slightly smaller than the average for Burrows Central but is a standard urban parcel. It offers a reasonable yard space for the neighbourhood, which is more land than you might get for a similar price in newer, denser developments.