Property Overview & Key Characteristics
This 936 sqft, one-and-a-half storey home on Burnell Street is a classic early-1900s character property in Winnipeg's Daniel McIntyre neighbourhood. Built in 1909, it sits on a compact, 2,080 sqft lot. Its assessed value is notably modest compared to city-wide averages, though it aligns more closely with neighbourhood norms. The home lacks a basement, garage, and pool, presenting a straightforward, low-maintenance structure.
Its primary appeal lies in its affordability and location within an established, central community. It represents a genuine entry point into the Winnipeg housing market, particularly suited for first-time buyers, downsizers, or investors seeking a character home with minimal complex systems. The compact lot size translates to less yard work, which could be a draw for those seeking an urban lifestyle without extensive upkeep. A thoughtful perspective is that homes of this era and size often foster efficient living, and its below-average assessment could present an opportunity for adding value through mindful updates, assuming the structure is sound.
Frequently Asked Questions
1. What does "no basement" practically mean for storage and utilities?
Utilities like the furnace and water heater will be located on the main living floor, consuming some interior space. Storage options will be limited to the main floor and the half-storey above, so creative solutions or off-site storage may be necessary.
2. How might the age of the home (1909) affect insurance and renovation plans?
Insurance premiums can be higher for century-old homes, and lenders or insurers may require specific inspections. Any renovations, particularly structural or electrical, will need to account for older building materials and methods, which can increase complexity and cost.
3. The assessed value is low compared to the city. Is this a benefit?
It can be, as it typically correlates with lower property taxes. However, it's essential to understand that assessed value is for municipal taxation and doesn't dictate market sale price. A professional appraisal and market analysis are needed to determine its true market value.
4. What are the implications of the smaller lot size?
The small lot minimizes exterior maintenance but also limits expansion possibilities. Any future addition or major exterior change would need to carefully comply with zoning bylards regarding setbacks and lot coverage. Outdoor private space will be limited.
5. The home last sold in February 2021. What should I consider?
Review what, if any, work was done in that time. Given the sale was just over three years ago, major price appreciation may be tied more to general market movements than significant improvements, so a thorough inspection to understand its current condition is crucial.