Property Overview & Key Characteristics
This 1948 one-storey home on Pritchard Avenue is a straightforward property whose primary appeal lies in its land and location rather than its size or condition. The 700 sqft living area is notably compact, ranking well below averages for the street, neighborhood, and city. The home features a detached garage and no basement.
Its main advantage is the 4,060 sqft lot, which is above average for Pritchard Avenue itself. This presents a clear value proposition: you are purchasing a sizable, level lot in an established area. The home appears to be priced accordingly, with an assessed value that is unremarkable for the street but below averages for the wider area, suggesting the existing structure adds minimal premium.
This property would suit a specific buyer: an investor or handy homeowner looking for a land play or a foundational project. It’s a candidate for a full renovation, expansion, or eventual rebuild. It is less suited for those seeking a move-in ready home or more interior space without significant investment.
Frequently Asked Questions
1. Is this a "tear-down" property?
While not explicitly stated, the combination of a very small, older home on a relatively large lot with a below-average assessed value for the neighborhood strongly suggests it’s a prime candidate for redevelopment or a major renovation.
2. What does the "below average" living area ranking mean practically?
With 700 sqft, the interior is very compact. It likely has a basic layout of few rooms. Buyers should plan for a lifestyle suited to minimal indoor space or budget for an addition.
3. The lot is "above average" for the street but "below average" for the neighborhood. Which is more important?
The street-level comparison is more relevant for daily living and potential. It means your lot is larger than most on your block, which is a private advantage. The neighborhood average includes many different streets and lot types.
4. Why is the assessed value so much lower than the city-wide average?
The city-wide average includes all types and ages of homes across Winnipeg. This assessment reflects the specific combination of an older, small home in this particular area, not a direct comparison to newer or larger houses elsewhere.
5. What are the implications of having no basement?
This limits storage and mechanical systems space. It also means no potential for a basement suite or additional below-ground living area, which is a factor in both utility and future value.