Property Summary: 613 William Avenue, Winnipeg
Key Characteristics & Appeal
This two-storey home, built in 1902, presents a unique blend of historic character and practical updates. Its primary appeal lies in offering above-average living space (1,578 sq ft) for its immediate area, providing more room than many neighbouring and city-wide comparables. The home sits on a standard city lot and features a renovated basement and a detached garage.
The property is best suited for value-conscious buyers who prioritize interior space over a large yard and are comfortable with a home from the early 1900s. Its significantly below-average assessed value suggests it could be an entry point into the Centennial/West Alexander area, potentially appealing to first-time buyers, investors, or those looking for a character home with a manageable footprint. A thoughtful perspective is recognizing that while the home is older than most on its street, it has been maintained for over 120 years, implying a solid, enduring structure. The appeal is practical: you are acquiring proportionally more house than land in an established neighbourhood.
Frequently Asked Questions
1. Why is the assessed value so much lower than the last sale price and city averages?
A significantly low assessed value is common for older homes and does not necessarily reflect market value. It can indicate outdated assessment metrics or substantial exemptions, but property taxes are typically based on this figure, which can be a financial advantage.
2. What does the "renovated basement" entail?
The listing notes a renovated basement, but specifics on finish quality, ceiling height, moisture control, and permits should be verified through a viewing and inspection. This is a key feature to clarify.
3. How does the age of the home (1902) affect maintenance?
While the home has proven durability, prospective buyers should budget for and inspect systems common to older houses, such as plumbing, electrical wiring, the foundation, and the roof. Its age is a point of character but also a focus for due diligence.
4. The living area is above average, but the lot size is average for the street. What does this mean?
This suggests the house occupies a larger portion of the lot. It’s efficient for living space but may mean smaller outdoor areas. It’s a good layout for those who prefer low-maintenance yards and more indoor square footage.
5. The home last sold in 2019. What should I consider?
The 2019 sale price provides a recent benchmark, but market conditions have likely changed. Investigating what visible upgrades were made since that sale, and why the owners are moving now, would be prudent.