Property Overview & Key Characteristics
This home at 463 William Avenue in Winnipeg's Centennial neighbourhood is a substantial two-and-a-half storey house built in 1898. Its primary appeal lies in its generous proportions, offering over 2,000 square feet of living space, which ranks in the top tier for the area. The property sits on a standard city lot of approximately 3,483 square feet. While it features a basement, it is noted as not being renovated, and the property does not include a garage or pool.
The home suits buyers looking for a historic property with ample room, potentially as a large family home or a renovation project. Its significantly above-average living area for both the street and neighbourhood suggests it offers more interior space than most nearby homes. The assessed value is notably lower than the citywide average, which may indicate an opportunity for value-conscious buyers or those willing to invest in updates. It’s a property that balances historic character with practical space but requires a buyer comfortable with the maintenance and potential modernization of a century-old home.
Frequently Asked Questions
1. What does "basement, not renovated" typically imply?
This usually indicates the basement is in original or functional condition but lacks modern finishes. Buyers should budget for potential updates and consider a thorough inspection for foundational and moisture-related issues common in homes of this age.
2. How significant is the lack of a garage?
Given the home's age and urban location, the absence of a garage is common. Buyers should assess on-street parking availability and consider the cost and feasibility of adding a garage later, subject to local bylaws.
3. The assessed value seems low compared to the city average. Why?
Property assessments are based on a mass appraisal system considering factors like location, age, and recent sales. The low citywide ranking reflects Winnipeg's vast suburban areas with newer, higher-valued homes. The value is above average for Centennial, suggesting it is priced appropriately for its specific, historic neighbourhood context.
4. The home is much older than most on the street. Is that a concern?
Its 1898 build date places it among the oldest on William Avenue. This offers unique character but also necessitates a diligent inspection focusing on aging components like wiring, plumbing, and the roof. It may also have heritage considerations that affect renovation plans.
5. The living area is ranked "Elite" for the street. What does that mean practically?
With 2,060 sq ft, this home offers substantially more interior space than the average home on William Avenue (approx. 1,090 sq ft). This is a key advantage, providing room for growing families or flexible living arrangements that are rare in the immediate area.