Property Overview & Key Characteristics
This is a compact, one-storey home on a surprisingly large lot in Winnipeg's Burrows Central neighbourhood. Built in 1913, its primary appeal lies in its land potential and its position as an entry-point property. With a living area of just 589 sq ft, it is notably smaller than most homes in the area, but its lot size of 3,294 sq ft is above average for the street. This presents a clear value proposition: the land itself holds significant worth relative to the structure.
The home is suited for specific buyers: first-time purchasers or investors looking for a low-cost entry into the market, or those with a vision to substantially renovate or rebuild to maximize the lot's potential. Its extremely low assessed and recent sold values indicate it is a true fixer-upper, likely requiring significant investment. The appeal is not in move-in-ready condition, but in foundational assets—a large, well-located lot and a very low price point. A thoughtful perspective is that this property represents a blank canvas; its value will be determined almost entirely by the next owner's plans and resources, rather than its current state.
Frequently Asked Questions
1. Why is the living area so much smaller than nearby homes?
At 589 sq ft, this home is among the smallest in Winnipeg, ranking in the top 1% for compact size. This typically indicates a very basic original layout or potentially a home that was built as a modest starter property over a century ago, with additions being uncommon on such a small footprint.
2. What does the large lot size mean for a buyer?
The 3,294 sq ft lot is larger than half the properties on the street. This discrepancy between a small house and a large lot is the key feature. It provides valuable outdoor space and, importantly, greater potential for future expansion, a major renovation, or even redevelopment, subject to local zoning.
3. The assessed value is very low. What does that indicate?
The assessed value is a municipal estimate for tax purposes, heavily influenced by the home's size, condition, and recent sales. An assessment this low, especially compared to similar-sized homes in other neighbourhoods, strongly suggests the city views the property as requiring substantial improvements. It reflects the current state, not the potential value after investment.
4. Is the unrenovated basement a concern?
The listing notes a basement that exists but is "not renovated." In a home of this age and profile, buyers should anticipate a basement with fundamental functional needs, such as proper moisture control, insulation, and ceiling height. It should be factored into renovation plans and budgets.
5. Who would this property not be suitable for?
This home is not suitable for buyers seeking a turn-key property, those unwilling to undertake major renovations, or families needing immediate, move-in-ready space. Its value is strategic and long-term, not in its current comfort or convenience.