Property Overview: 840 College Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This 2023-built bi-level home at 840 College Avenue presents a distinct profile defined by its modern construction and compact, efficient footprint. Its key appeal lies in being a nearly new build in an established neighbourhood, offering move-in readiness without the concerns of aging infrastructure common in the area. With 955 sqft of living space and an unrenovated basement, it suits buyers seeking a low-maintenance, modern home on a modest scale.
The property’s standout characteristic is its age: it ranks in the top 1% for year built both on its street and in the wider Burrows Central area, where the average home was constructed in the 1930s. This is a significant advantage for those wary of major repairs. However, the lot size of 2,277 sqft is notably smaller than area averages, which may limit expansive outdoor projects but reduces yard maintenance. The home recently sold for $314,000, a price well above local norms, reflecting the premium for its new condition. This property would ideally suit first-time buyers, downsizers, or investors looking for a modern, worry-free asset in a central location, who prioritize interior condition over a large yard or extensive renovation potential.
Section 2: Frequently Asked Questions
1. What does the "below average" land area ranking mean for me?
It means the lot is smaller than most in Winnipeg. The benefit is less yard work; the trade-off is limited space for additions, large decks, or extensive landscaping.
2. The assessed value is $290k, but it sold for $314k. Why the difference?
Assessed value is for municipal tax purposes and often lags behind the current market. The sale price reflects what a buyer recently paid, indicating a premium was placed on the home's very recent construction.
3. Who is this home not well-suited for?
It may not suit buyers needing significant space for a growing family, those who want a large garden or workshop, or anyone looking for a "fixer-upper" or renovation project, as the home is essentially new.
4. The basement is noted as "not renovated." What should I expect?
Expect a basic, unfinished space. This provides excellent storage or future expansion potential, but any development (like a rec room or suite) would require a full renovation investment.
5. How does its value compare to similar-aged homes city-wide?
While its build date is elite locally, city-wide rankings show its living space and assessed value are more average. This highlights that you're paying primarily for new construction in a specific, established neighbourhood rather than for sheer size or high-end finishes.