Property Overview
This one-and-a-half storey home, built in 1922, presents a straightforward opportunity in Winnipeg's Burrows Central neighbourhood. Its key appeal lies in its position as an affordable entry point into the market. With a compact 762 sqft living area and an unrenovated basement, it is a classic "starter" property or a practical investment. The lot, at 2,283 sqft, is smaller than most in the city but is typical for the local area, offering manageable upkeep.
The home suits first-time buyers prioritizing low upfront cost over move-in readiness, or investors looking for a rental property with a low assessed value base. Its century-old character comes with the expected considerations of age, but its year built is actually around average for its immediate street, suggesting it fits the established fabric of the area. A thoughtful perspective is that smaller, older homes like this often have proportionally lower utility and maintenance costs, which can be a significant factor in long-term affordability beyond the purchase price.
Frequently Asked Questions
1. Is the assessed value the same as the market price?
No. The assessed value ($13.5k) is for municipal tax purposes. The market price is determined by what buyers are willing to pay, which can be much higher, as indicated by the 2016 sale at $11.8k in a different market.
2. What does "below average" for land and living area really mean?
While the lot and home are smaller than Winnipeg averages, they are much more in line with—though still on the smaller side of—the local Burrows Central neighbourhood. This isn't unusual for the area and translates to less yard work and efficient use of space.
3. Who is this property not suited for?
It is likely not a match for those needing a turn-key, modern home, multiple bedrooms, or significant storage space. The unrenovated basement means any finished living or storage area would require investment.
4. How significant is the age of the home?
Built in 1922, it requires a practical mindset. While systems and structure should be carefully inspected, its age is typical for the street. Many nearby reference homes were built in the 1910s, so local trades may be familiar with the construction style and common issues of that era.
5. Are there comparable homes nearby?
Yes. The listing references several nearby properties on Redwood and Aberdeen Avenues with similar assessed values, sizes, and ages (e.g., 861 Redwood Ave). This provides a clear benchmark for the type of housing stock in this specific part of Burrows Central.