Property Overview
This one-and-three-quarter storey home on Selkirk Avenue, built in 1911, presents a straightforward opportunity centered on its land and location. With 896 square feet of living space and an unfinished basement, the house itself is modest and requires updating. Its key characteristic is a 3,014 sqft lot that is notably larger than many city properties, offering potential for outdoor space or future expansion in a well-established central neighbourhood. The appeal lies squarely in its value as an entry point into the Winnipeg market, with a very low assessed value and recent sale price. It suits a practical, hands-on buyer—such as a first-time investor looking for a rental property, a homeowner willing to undertake gradual renovations, or someone prioritizing lot size over a move-in-ready condition. A less obvious perspective is that a home of this age and scale can offer manageable utility and maintenance costs compared to larger, newer builds, representing a simpler living proposition.
Frequently Asked Questions
1. What is the true condition of the property?
The listing notes the basement is "not renovated," which typically indicates it is in original, unfinished condition. Given the home's age (1911), buyers should budget for potential updates to major systems like plumbing, wiring, or the roof, and expect a renovation project.
2. Why is the assessed value so much lower than the city average?
The assessed value is based on the property's current state, size, and recent sales. Its significantly lower value reflects the modest living area, the age and condition of the home, and its location within the broader market, not necessarily the land value alone.
3. Is the large lot a valuable asset?
Potentially, yes. The lot is larger than many in the immediate area and significantly larger than the citywide average for comparable homes. This provides more private outdoor space and could be a long-term asset for adding a garage, garden, or extension, subject to zoning bylaws.
4. What should I know about the neighbourhood, Burrows Central?
It's a mature, long-established neighbourhood with a mix of residential and commercial uses along main arteries like Selkirk Avenue. Buyers should visit at different times to gauge traffic, noise, and overall community feel to see if it aligns with their lifestyle.
5. How do the recent sale prices guide an offer?
The property sold for $12,800 in late 2021 and $11,800 in 2017. These figures, close to the current assessed value, suggest a stable, low-value market for the home in its current condition. An offer would likely be informed by this recent history plus the cost of necessary immediate repairs.