Property Overview
This 1955-built, one-storey home at 1603 Pritchard Avenue is a property defined by its land and location. Sitting on a 4,999 sqft lot, the parcel is notably larger than most on its street and in the Burrows-Keewatin neighbourhood, ranking in the top 10% and 22% respectively for land area. The 912 sqft living space is modest and typical for the immediate area. Its primary appeal lies in this above-average lot size within an established community, offering potential for expansion, gardening, or outdoor space that is harder to find on newer, more densely packed lots. The home last sold in late 2021 for $220k, a price that was above average for Pritchard Avenue at the time.
This property would suit a value-conscious buyer, such as a first-time homeowner or an investor, who prioritizes land potential over a move-in-ready or spacious interior. It’s a practical choice for someone comfortable with a smaller footprint who sees the lot as a long-term asset, whether for personal use or future redevelopment. The assessed value remains relatively low, which may also appeal to those mindful of annual property taxes.
Frequently Asked Questions
1. Is the lot size the main feature here?
Yes. The data shows the 4,999 sqft lot is significantly larger than the average for both the street (3,730 sqft) and the neighbourhood (4,715 sqft). The house itself is of average size for the area, so the land is the standout characteristic.
2. What does the sale history indicate?
The home sold for $220,000 in December 2021, which was considered an above-average price for Pritchard Avenue at that time. A previous sale in 2016 was for $17,700, suggesting that property may have changed hands under very different circumstances, such as a land-only transaction or between family members.
3. Who might this property not suit?
It may not suit buyers looking for a modern, low-maintenance home or those needing substantial indoor living space. With no garage and a smaller, older house, it requires a buyer comfortable with potential updates or a simpler lifestyle.
4. How does it compare city-wide?
While the lot is above average locally, it is around the middle of the pack (top 55%) for all of Winnipeg. The living area and assessed value are below the city-wide averages, highlighting that this is a neighbourhood-centric value proposition rather than a city-leading one.
5. What is the context of the assessed value?
The assessed value of $19,500 is around average for Pritchard Avenue but below average for the wider neighbourhood and city. This typically correlates with lower property taxes, but it’s essential to distinguish this from market value, which is better reflected by the 2021 sale price of $220k.