926 Burrows Avenue

Property Overview

This one-storey home on Burrows Avenue is a classic Winnipeg character property, built in 1914. Its primary appeal lies in its value proposition and potential. With a modest 864 sqft living area and an unrenovated basement, it presents a straightforward, affordable entry into homeownership. The lot size of 2,463 sqft is smaller than most in the immediate area but is typical for the central city. Recent sale history shows significant appreciation, last selling for $210k in 2022. This property suits first-time buyers, investors looking for a rental property, or handy individuals seeking a project without the footprint of a larger home. Its assessed value remains low, suggesting room for value growth through updates.

Key Considerations & FAQs

1. What is the true condition of the basement?
   The listing explicitly notes the basement is "not renovated." Buyers should budget for professional inspection to understand the scope of any necessary repairs, from moisture management to foundational updates.

2. How does the smaller lot size impact its use?
   While the yard is functional, its below-average size for the street limits expansive landscaping or additions. This can be a positive for those seeking lower maintenance.

3. Is the rapid price increase from 2021 to 2022 a concern?
   The jump from $14.3k to $210k likely reflects a major change, such as a previous lot sale or a significant renovation. Reviewing past listing photos and permits is crucial to understand what drove the increase.

4. Who would be the ideal buyer for this home?
   It's best suited for a pragmatic buyer who values location over size, or an investor comfortable with managing a property that may need gradual improvements. It's less ideal for those needing move-in-ready perfection or ample space.

5. How do the property taxes compare?
   With an assessed value of $17.1k, the municipal taxes will be relatively low for the city. This is a key ongoing cost advantage for budget-conscious owners.