Property Overview
This home at 290 Hamel Avenue in Winnipeg's Central St. Boniface neighbourhood is a classic one-and-a-half storey property built in 1927. It sits on a 4,836 sqft lot and features 1,068 sqft of living space, a detached garage, and a basement that has not been renovated. The property last sold in December 2020 for $22,100 and currently holds a municipal assessed value of $25,200.
Key Characteristics & Appeal
This property’s primary appeal lies in its location and the value of its land. The lot size is above average for both the immediate street and the broader St. Boniface area, offering a generous outdoor space that is increasingly rare in central neighbourhoods. The home itself is modest in size and assessed value, which positions it as an accessible entry point into a well-established community.
Its characteristics suggest it would best suit a specific type of buyer: a handy homeowner or investor looking for a footprint in a desirable area, who views the existing structure as a candidate for a significant renovation, expansion, or potentially a future rebuild. The low assessed value and sale price indicate the current building contributes minimally to the property's worth, placing the emphasis squarely on the land value and the neighbourhood. It is not a move-in-ready home, but rather a project with foundational assets—location and lot size—that are difficult to replicate.
A less obvious perspective is that this property represents a clear "value of land versus structure" scenario. For the right person, the below-average costs present an opportunity to create equity through improvements, rather than paying a premium for a already-modernized home in the same area.
Frequently Asked Questions
1. Why is the sale price and assessed value so much lower than typical Winnipeg homes?
The assessed value is primarily based on the land and the existing, unrenovated structure. The low values reflect the age and condition of the home, not the desirability of the location. It indicates a property where the land constitutes a significant portion of the total worth.
2. What does the "one-and-a-half storey" design typically mean for a home built in 1927?
This style often features a main floor with principal rooms and a second floor under sloped roof lines, creating cozier, sometimes smaller bedrooms. It is a classic architectural style for the era but may have lower ceiling heights or unique layouts on the upper level compared to a full two-storey home.
3. Is the basement usable in its current state?
The listing specifies the basement exists but is "not renovated." Buyers should anticipate a functional but unfinished space, likely suitable for utilities and storage only, with potential for moisture issues common in century-old foundations.
4. The lot is larger than average for the area. What are the potential benefits?
A larger lot provides more outdoor privacy, space for gardens, play areas, or additions like a deck or shed. Critically, it may also offer more flexibility for future home expansions or renovations, and typically holds stronger long-term value.
5. Who would be responsible for verifying the potential for a rebuild or major renovation?
Any plans for significant changes or a rebuild would require the buyer to investigate Winnipeg's zoning bylaws, heritage designations (if any), and obtain the necessary permits. This due diligence is essential and falls to the prospective owner.