Property Overview: 945 Selkirk Avenue
Key Characteristics & Appeal
This is a modest, one-storey home built in 1912, situated on a standard residential lot in Winnipeg's Burrows Central neighbourhood. Its primary appeal lies in its position as an accessible entry point into the housing market. With a compact 720 sqft living area and an unrenovated basement, the property presents a straightforward, no-frills opportunity. The lot size is typical for the local area, offering reasonable outdoor space for the neighbourhood.
The home is best suited for a specific type of buyer: investors, developers, or very hands-on owner-occupants. Its notably low assessed value and historical sale price suggest it is a candidate for a complete renovation, a hold-for-land-value investment, or a potential redevelopment project (subject to zoning). It is not a move-in-ready home, but a foundational asset. A less obvious perspective is that its older construction date, while requiring attention, often comes with solid, durable materials not found in newer builds, offering a unique character base for a thoughtful restoration.
Frequently Asked Questions
1. Is this a move-in ready home?
No. The listing notes the basement is "not renovated," and the overall metrics suggest the home requires significant updates and modernization to be comfortable for contemporary living.
2. Why is the assessed value so much lower than the city average?
The low assessed value reflects the home's age, compact size, and likely the need for substantial improvements. It is assessed based on its current condition, not its potential after renovation.
3. What kind of renovation costs should I anticipate?
Given the home's age and condition, buyers should budget for a full-scale renovation. This would include updating essential systems (electrical, plumbing, heating), addressing any structural concerns common in century-old homes, and a complete interior and exterior overhaul. Professional inspections are crucial.
4. Who would this property suit best?
It is ideally suited for an investor looking for a rental property after renovation, a developer considering the land value, or a handy buyer seeking a full project home to build equity through sweat equity.
5. How does the lot size compare, and why does it matter?
At just over 3,000 sqft, the lot is average for Burrows Central but below the Winnipeg city average. For a potential redeveloper, this is a key metric to check against local zoning bylaws for allowable building size, setbacks, and potential for additions.