Property Overview: 1559 Pritchard Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1948 on a notably spacious lot for its street. The key figures tell a clear story: the 4,060 sqft land area is well above average for Pritchard Avenue, placing it in the top 24% of lots locally. In contrast, the 700 sqft living area is modest, ranking in the bottom 12% on the same street. This creates a distinct profile of a smaller, older home with significant outdoor space.
Its primary appeal lies in its land value and potential. The property suits a specific buyer: someone looking for an entry point into homeownership with a vision for expansion, or an investor/developer who sees value in the lot itself. It’s a practical choice for a buyer comfortable with a smaller footprint now, with an eye toward a future renovation or addition that could capitalize on the generous yard. The assessed value is very typical for its immediate area, suggesting it’s priced for its current state rather than its future potential.
A less obvious perspective is its positioning within the broader neighbourhood. While the lot is large for the street, it’s actually below average for the wider Burrows-Keewatin area, indicating the surrounding area may have even larger properties. This home represents a more manageable scale on a street with substantial lots.
Section 2: Frequently Asked Questions
1. Is this a "tear-down" property?
Not necessarily. While the living space is small and the home is older, it is a functional dwelling. The value proposition is the land. A buyer could choose to live in it as-is, renovate and expand over time, or redevelop the lot entirely.
2. How does the 2017 sale price of $150k relate to today's value?
The sale seven years ago provides a historical benchmark. The current assessed value for taxation is significantly lower, but market value is determined by current conditions, buyer demand, and the value of comparable lots and homes sold recently.
3. What does "below average" for Living Area city-wide really mean?
With a ranking in the top 96% (meaning only 4% of city homes are smaller), this is among the smallest homes by square footage in Winnipeg. Buyers should be prepared for a cozy living environment.
4. The lot is large for the street, but what about maintenance?
The above-average lot size (4,060 sqft) means more yard to maintain—a cost and time consideration. However, it also offers more private outdoor space and flexibility than most neighbouring properties.
5. Who are the most likely neighbours or comparable properties?
The listing shows nearby properties with similar assessed values are primarily condominium units in Varsity View, a different area entirely. This highlights that this home’s value is tied to its land, not its dwelling size, and its true comparables would be other small homes on large lots in its immediate vicinity.