Property Overview
This 1905 two-and-a-half storey home on William Avenue presents a distinct opportunity. Its key appeal lies in its generous 1,768 sqft living area, which is notably larger than most comparable homes on its street and in the wider Centennial neighbourhood. The property sits on a 2,936 sqft lot, which is a manageable size for the area. While the home retains its original, unrenovated basement and does not include a garage, its assessed value is positioned around the local average, suggesting a foundation for value-driven projects. The sale history shows a significant price correction in 2021, indicating a potential entry point.
This property would suit a specific buyer: a hands-on renovator or investor looking for a character home with "good bones" in a central Winnipeg neighbourhood. It’s for someone who sees value in the existing spacious layout and is prepared to modernize it over time. The appeal is less about immediate move-in readiness and more about the potential locked within a historically sizable structure at a land-value-conscious price.
Frequently Asked Questions
1. What does "unrenovated basement" typically imply?
It generally means the original foundation, flooring, walls, and utilities are intact and likely in need of modernization. This could involve addressing moisture control, insulation, electrical updates, and finishing work to create livable space.
2. The sale price dropped significantly from $150k in 2016 to $21.5k in 2021. Why?
Such a sharp decline often reflects a major change in circumstance or condition, such as the property being deemed uninhabitable, a distressed sale, or a significant change in its assessed classification. It underscores the importance of a thorough inspection and understanding the property's recent history.
3. How does the lack of a garage impact daily life here?
Given the urban neighbourhood and age of the home, on-street parking is the norm. Buyers should assess street parking availability and consider the logistical challenges of grocery trips, projects, and winter weather without dedicated covered parking.
4. The living space is large for the area, but the year built is 1905. What should I consider?
The generous layout is a major plus, but a home of this age requires careful evaluation of core systems. Budgeting for potential updates to wiring, plumbing, heating, and the envelope (windows, insulation, roof) is essential. The charm of historic space comes with the responsibility of modernizing its infrastructure.
5. Is the assessed value a reliable indicator of the market price?
Not directly. The municipal assessed value for taxation purposes is consistently low here compared to citywide averages and lags behind the market. The sale history is a more critical guide, but the final price will be determined by current market conditions, the property's exact state, and buyer demand for a project home.