Property Overview & Key Characteristics
This one-and-a-half storey home on College Avenue, built in 1926, presents a practical opportunity in Winnipeg's Burrows Central neighbourhood. Its primary appeal lies in its solid, unpretentious foundation: a decently sized 3,624 sqft lot and a living space (1,196 sqft) that is notably above average for the immediate area. The home features a detached garage and a basement, though the basement is noted as not being renovated.
The property’s value proposition is contextual. Its assessed value is very modest compared to the Winnipeg city-wide average, positioning it as an accessible entry point. Within its own neighbourhood and street, however, it sits comfortably around the average, suggesting it is priced in line with local expectations. This creates an interesting dynamic: it’s a below-average city investment for an above-average neighbourhood property in terms of living space.
This home would suit a pragmatic buyer, such as a first-time homeowner comfortable with a property that may require updates, or an investor looking for a land-value proposition with a existing rental structure. Its character isn't about luxury finishes, but about offering more interior space than many nearby homes on a manageable lot, with the potential to add value through renovation.
Frequently Asked Questions
1. What does "above average for the neighbourhood" specifically refer to?
The living area of 1,196 sqft ranks within the top 16% of similar homes in Burrows Central, meaning it offers more interior space than most comparable properties in the immediate area.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the local market in Burrows Central. While very modest compared to Winnipeg's overall average, it is standard for this specific neighbourhood, indicating the price is driven by location within the city as much as by the property itself.
3. What should I expect with an unrenovated basement?
This typically means the basement is in original or functional condition, but may lack modern finishes, an updated layout, or moisture-proofing. It should be inspected to understand its current state and potential for future development.
4. How does the lot size compare?
At 3,624 sqft, the lot is slightly below the city average but is very typical for College Avenue and is actually above the average lot size for the Burrows Central neighbourhood, providing decent outdoor space for the area.
5. The home is 100 years old. What are the key considerations?
While the structure has proven its durability, a pre-purchase inspection is essential to evaluate the condition of major aged components like the foundation, plumbing, electrical systems, and the roof. Its age is typical for the street and area.