Property Overview
This two-storey home at 823 College Avenue offers a compelling mix of space, value, and location within Winnipeg's Burrows Central neighbourhood. Built in 1962, it sits on a large 5,466 sqft lot and provides nearly 2,000 sqft of living area. Its key appeal lies in its above-average scale for the area—ranking in the top tiers for both lot and living space on its street and in the wider neighbourhood—paired with a relatively recent sale price that suggests solid value. The home has an unfinished basement, no garage, and no pool, positioning it as a practical canvas rather than a turn-key property.
This property would suit value-conscious buyers looking for a spacious footprint to customize over time, or investors seeking a house with strong rental potential due to its size. Its rankings indicate it's a larger, more modern home compared to many in the immediate vicinity, which are often older and smaller. A thoughtful perspective is that while the assessed value is modest, the 2020 sale price of $320k reflects what the market was willing to pay, highlighting a potential gap between municipal assessment and market value that buyers should explore.
Frequently Asked Questions
1. What does the "ranking" data actually mean?
The rankings compare this property against others on the same street, in the neighbourhood, and across Winnipeg. For example, its living area is in the top 5% on its street and top 1% in Burrows Central, meaning it's significantly larger than most homes nearby.
2. The assessed value is much lower than the 2020 sale price. Why?
Municipal assessed value for taxation purposes often lags behind market value and uses a different calculation method. The $320k sale price is a concrete indicator of its recent market worth, while the $34.7k assessment should not be mistaken for the home's potential listing price.
3. Who would this property be a good fit for?
It's ideal for buyers who prioritize interior and yard space over modern renovations. The unfinished basement and lack of a garage present opportunities for customization. It could also serve well as a multi-generational home or a rental property due to its substantial size.
4. The nearby comparison homes seem older and smaller. Is that typical?
Yes. The listed comparisons, like those on Boyd or Redwood Avenues, are often pre-1940s and under 1,100 sqft. This highlights that 823 College is a relatively newer and more spacious property in this context, which is a key part of its character.
5. Are there any obvious drawbacks from this summary?
The summary notes the basement is unfinished and there is no garage. For some buyers, the lack of a garage and the need to finish the basement for additional living space will be important considerations in their budget and planning.