Property Overview
This 1958 one-storey home at 1687 Selkirk Avenue presents a practical and value-oriented opportunity in Winnipeg's Burrows-Keewatin neighbourhood. Its key appeal lies in its proportion: a modest 908 sqft living area sits on a notably generous 4,195 sqft lot, which ranks well above average for Selkirk Avenue. The home features a renovated basement and a detached garage. With a relatively recent sale in 2016 and a current assessed value that is above average for its immediate area, it represents an entry-point property with a solid foundation. The numbers suggest a home that is older but well-situated on its street, likely appealing to buyers seeking land potential, a manageable footprint, or a straightforward investment in a established community.
Who It Suits:
This property would suit first-time buyers or practical investors looking for a lower-barrier entry into the market. It's also a candidate for buyers who value a larger lot over a large house, seeing potential for outdoor space, future expansion, or simply more breathing room than newer infill lots typically offer. The renovated basement adds functional living space, making it viable for small families or those needing a home office or separate living area.
Frequently Asked Questions
1. Is the lot size a significant advantage?
Yes. The land area is in the top 29% for Selkirk Avenue, meaning the lot is larger than most directly comparable properties. This provides more outdoor space and potential than is typical for the street.
2. How does the home's age affect its value?
Built in 1958, the home is newer than most on its street and in the neighbourhood, which is a relative advantage. However, prospective buyers should still budget for expected maintenance and updates common to houses of this era.
3. The living area seems small. Is the house functional for a family?
At 908 sqft above grade, the main floor is compact. The renovated basement effectively doubles the usable living space, making it more functional for a small family or for creating separate living zones.
4. Why is the assessed value so much lower than the Winnipeg city-wide average?
The assessed value reflects the local market in Burrows-Keewatin and on Selkirk Avenue, where values are consistently lower than the city's overall average. This indicates an affordable area, not necessarily an undervalued individual property.
5. What does the 2016 sale price tell us?
The home sold for $22,800 in 2016, close to its current assessed value. This history suggests a stable, low-volatility value trajectory in its market segment, rather than rapid appreciation.