Property Summary: 923 Selkirk Avenue
Section 1: Key Characteristics & Appeal
This is a classic, century-old one-storey home in Winnipeg's Burrows Central neighbourhood. Its primary appeal lies in its substantial, above-average lot size—over 4,500 sqft—which is a notable feature for the area and offers significant potential for expansion, gardening, or outdoor space. The house itself is modest, with nearly 1,000 sqft of living space and an unrenovated basement, presenting it as a straightforward canvas.
The property suits practical, value-oriented buyers. It's ideal for a first-time homeowner comfortable with a home that may need gradual updates, or an investor looking for a land-strong asset in an established community. The very low assessed value points to a historically accessible entry point into the market. A less obvious perspective is that a home from 1905, while requiring attention, often possesses a character and build quality distinct from later constructions, appealing to those who appreciate historic foundations. Its average sale price for the street suggests it's a typical proposition for the block, representing a stable, no-surprises opportunity rather than a standout bargain or a premium listing.
Section 2: Frequently Asked Questions
1. What does "unrenovated basement" typically imply?
It usually means the basement is in its original or functional state, lacking modern finishes. Buyers should budget for potential updates to insulation, moisture management, or flooring, but it also offers a blank slate for customization.
2. How significant is the large lot size?
Very. In this neighbourhood, the lot is larger than approximately 81% of comparable properties on the street. This provides more private outdoor space than typical and is a long-term asset, as land is a finite resource.
3. The home is very old. What should I consider?
While the structure has stood for over 120 years, key systems like wiring, plumbing, and the foundation should be carefully inspected. Older homes can be very solid, but maintenance and modernization costs should be factored into your planning.
4. Why is the assessed value so much lower than the past sale price?
Municipal assessed value for tax purposes often lags behind market value and is calculated using a different formula. The sale price reflects what a buyer was willing to pay in the open market at that time.
5. Are there comparable homes nearby?
Yes, the listing shows several nearby properties on Selkirk, Pritchard, and Manitoba Avenues with similar ages, sizes, and values. This indicates a consistent character and price range for the immediate area, which is helpful for valuation.