Property Overview
This one-and-three-quarter storey home, built in 1894, presents a unique opportunity in Winnipeg's Centennial neighbourhood. Its primary appeal lies in its generous 1,928 sqft of living space, which ranks in the top 1% for size among similar homes on its street and the top 10% in the broader neighbourhood. The property sits on a 3,644 sqft lot, offering above-average outdoor space for the area. While the home retains its original character—evident in its unrenovated basement and age—its assessed value is notably modest compared to city-wide averages. This creates a specific value proposition: significant interior space and a large lot at a very accessible price point, albeit in a home that requires modernization.
It would best suit a hands-on buyer looking for a project—perhaps a renovator, an investor seeking a value-add opportunity, or a family needing ample room who is willing to trade modern finishes for square footage and potential. Its low assessed value also makes it a candidate for those with a tight budget but a desire for a character home in an established area. A less obvious perspective is that its standout living area and land size, relative to its immediate peers, suggest a property that was once a substantial home for its street, offering a chance to restore a piece of the neighbourhood's architectural history.
Frequently Asked Questions
1. What does "one-and-three-quarter storey" mean?
This is a common architectural style for older Winnipeg homes. It typically means the second floor has full-height ceilings at the front, but the ceilings slope with the roofline at the back, creating some rooms with cozier, angled ceilings. It maximizes space efficiently.
2. The assessed value seems very low. Why is that?
The assessed value is for municipal tax purposes and is influenced heavily by recent sale prices of comparable properties and the home's condition. This figure suggests the home is valued primarily for its land and structure in its current, unrenovated state, not for modern amenities or finishes.
3. Is the unrenovated basement a major concern?
It depends on your plans. It indicates the home's systems and foundational spaces are likely original. A professional inspection is essential to understand the condition of the foundation, plumbing, and electrical systems. It represents both a potential cost and a blank canvas for a future renovation.
4. How does the lot size compare?
At 3,644 sqft, the lot is larger than most in the Centennial neighbourhood (top 26%), offering more private outdoor space than many nearby properties. This is a key asset for gardening, play, or future additions like a deck or garage.
5. The home is very old. What should I consider?
Its 1894 construction means it has character but may also have outdated wiring, plumbing, and insulation. While it has stood for over a century, any renovation or update should be planned with an understanding of older building materials and methods. Energy efficiency upgrades are likely a priority for modern comfort.