Property Overview & Key Characteristics
This one-storey home at 830 College Avenue is a modest, century-old property built in 1912. Its key appeal lies in its affordability and potential as a straightforward investment or entry point into the Winnipeg market. The lot size of 2,277 sq ft is notably smaller than most in the city, but is actually more typical for the immediate street and Burrows Central neighbourhood. With 720 sq ft of living space, the house itself is compact. It features a detached garage and an unrenovated basement, presenting a blank canvas for updates.
This property would best suit a value-focused buyer, such as a first-time investor looking for a rental property with a lower entry cost, or a hands-on owner willing to gradually improve a home over time. Its below-average assessed value and recent sale price indicate it’s positioned for those prioritizing low carrying costs over modern finishes or size. A less obvious perspective is that its smaller, manageable lot could be a perk for someone seeking minimal yard maintenance, while its age and established neighbourhood location offer a sense of character often absent in newer, more peripheral developments.
Frequently Asked Questions
1. What does the ranking data (e.g., "Top 87%") actually mean for a buyer?
It’s a comparative benchmark. For example, the land area ranks in the top 87% on its street, meaning only 13% of comparable lots on College Avenue are smaller. This shows that while the lot is small city-wide, it’s more in line with local norms.
2. Is the low assessed value a concern?
Not necessarily. It primarily reflects the home’s modest size, age, and condition relative to the broader Winnipeg market. It results in lower property taxes, which is a financial advantage for an owner or investor.
3. The home sold recently in late 2022. What does that indicate?
The quick resale could suggest an investor’s flip or a change in an owner’s circumstances. It underscores the importance of a thorough inspection to understand the property’s current condition and what, if any, work was done in that short period.
4. Who might not be a good fit for this property?
Buyers needing move-in-ready condition, ample living space, or a large yard for recreation should look elsewhere. Its appeal is squarely for those comfortable with a project or seeking a simple, no-frills asset.
5. How does the unrenovated basement affect the home’s utility?
It provides storage and mechanical space but limits immediate livable area. For the right buyer, this represents potential for future expansion (subject to permits and codes), but it requires an investment to finish.