Property Overview
This one-and-a-half storey home, built in 1930, sits on a standard-sized lot in the Burrows Central neighbourhood. Its primary appeal lies in its land value and location, presenting a straightforward opportunity. The living space is modest at 838 square feet, and the home features an unrenovated basement and no garage. It last sold in 2020 for $12,500, with a current assessed value significantly below the Winnipeg city average.
Key Characteristics & Ideal Buyer
The core characteristic of this property is its land. The lot size is typical for the immediate street and area, but represents a larger-than-average parcel for this part of the city, offering potential for future expansion or redevelopment. The home itself is a compact, no-frills structure requiring updates. Its assessed value is very low compared to the wider city, indicating a low property tax base.
Its appeal is primarily to value-driven buyers looking for a footprint in the neighbourhood. It would suit an investor or handy homeowner willing to undertake renovations, or someone viewing it as a land play where the existing house provides basic shelter or rental income while longer-term plans are made. It is not suited for those seeking a move-in ready home or extensive modern amenities.
Frequently Asked Questions
1. What does "one-and-a-half storey" mean for this home?
Typically, this style features a main floor with principal rooms and a second floor under sloped rooflines, creating smaller or cozier bedrooms. Given the modest total square footage, the upstairs space is likely quite compact.
2. Why is the assessed value so much lower than the city average?
Assessed values are based on market trends, home condition, and location. This figure reflects the home's age, smaller size, need for updates, and its position in the local market, not the national or city-wide boom seen in other areas.
3. Is the unrenovated basement finished or usable?
The listing specifies it is "not renovated," which generally means it is in a rough, unfinished state—likely concrete floors and walls, with exposed mechanical systems. It provides storage and utility space but would require significant work to become living space.
4. How does the 2020 sale price relate to its current value?
The $12,500 sale price from 2020 is a historical data point. Current value is influenced by today's market conditions, but such a recent low sale price strongly indicates the property was purchased as a land-value or investment opportunity, not for its structure.
5. What are the implications of having no garage?
Parking will be limited to on-street or a potential driveway. This is a practical consideration for vehicle owners and may also impact storage options, especially during Winnipeg winters.