Property Overview: 987 Selkirk Avenue
Key Characteristics & Appeal
This is a modest, one-storey home built in 1945 on a standard city lot in Winnipeg's Burrows Central neighbourhood. Its key characteristic is its straightforward, unrenovated condition, featuring a detached garage and a full basement that awaits finishing. The living space is compact at 748 sq ft, placing it below average for the local area, which suggests a cozy, efficient layout.
The primary appeal lies in its position as an affordable entry point into the housing market. With a recent sale price and assessed value significantly below the citywide average, it represents a low-barrier opportunity. The lot size is typical for the street, offering standard outdoor space. This property would best suit a practical, hands-on buyer—perhaps a first-time homeowner willing to undertake gradual renovations, or an investor looking for a straightforward rental property with foundational equity in the land. Its value is rooted in basics, not luxury, appealing to those who see potential in a blank canvas without the premium for modern updates.
Frequently Asked Questions
1. What does "below average" living area actually mean for daily life?
At 748 sq ft, the home is smaller than many in the immediate area. This typically means efficient use of space is key, with fewer separate rooms or smaller bedroom sizes. It suits simpler living arrangements but may feel cramped for a growing family.
2. The assessed value is very low compared to the city average. Why?
The assessed value reflects the property's current unrenovated state, smaller size, and its location within the broader Winnipeg market. It indicates the home is valued primarily for its land and structure, not for finished living space, which keeps taxes lower but signals needed investment.
3. Is the basement usable?
The listing notes the basement exists but is "not renovated." It is likely a raw, unfinished space suitable for storage or mechanicals, offering potential for future development subject to permits and investment.
4. How does the lot size compare, and what can I do with it?
At just over 3,000 sq ft, the lot is average for Burrows Central. This provides a standard backyard for gardening, recreation, or simple outdoor living, but not an unusually large or subdividable parcel.
5. The home is older. What should I budget for immediately?
Built in 1945, major systems like roof, plumbing, wiring, and insulation may be at or beyond their typical lifespan. An inspection is crucial, and budgeting for essential updates rather than cosmetic improvements should be the first priority.