Property Overview & Key Characteristics
This is a classic one-storey home on a notably large lot in Winnipeg's Burrows Central neighbourhood. Built in 1913, its primary appeal lies in its land: at over 4,500 square feet, the property offers significantly more outdoor space than most in the immediate area, ranking in the top 11% on its street. This presents a clear opportunity for expansion, gardening, or outdoor living that is rare for the locale. The home itself is modest at 700 sqft of living space with an unrenovated basement and a detached garage, suggesting it's a straightforward, no-frills canvas.
Its value is grounded in its below-average assessed value and recent sale price, positioning it as an accessible entry point into the market. This property would suit a pragmatic first-time buyer comfortable with a home that may require updates over time, an investor looking for a land-value play with rental potential, or a buyer who prioritizes private outdoor space over a large interior. It’s a home for those who see potential in the land and the fundamentals, rather than immediate move-in finish.
Frequently Asked Questions
1. What does "unrenovated basement" typically mean for a home of this age?
It likely indicates original or dated conditions, including possible moisture concerns, older flooring, and utilities. A thorough inspection is essential to understand the scope of any needed improvements or waterproofing.
2. How does the large lot size impact costs?
While providing valuable space, a larger lot can mean higher maintenance (like lawn care or snow clearing) and potentially slightly higher property taxes compared to neighbours with smaller parcels, though the assessed value remains low.
3. Is the low assessed value a concern?
Not necessarily. It primarily reflects the city's valuation for tax purposes, which heavily weights the home's modest size and condition. The recent sale price of $110k is a more current indicator of market value.
4. What are the possibilities for expanding the living space?
The generous lot presents clear potential for a future addition, a large garage or workshop, or even a secondary suite (subject to zoning and permitting). The existing small footprint makes lateral or vertical expansion a logical consideration.
5. How does the age of the home affect insurance and maintenance?
Homes from this era may have older electrical, plumbing, and insulation. This can lead to higher home insurance premiums and a maintenance plan should prioritize these critical systems for safety and efficiency upgrades.