112 Powers Street

Property Overview: 112 Powers Street, Winnipeg

Section 1: Key Characteristics & Appeal

This is a compact, one-storey home built in 1902, situated on a modest lot in the Dufferin neighbourhood. With 782 square feet of living space and an unrenovated basement, it presents as a straightforward, no-frills property. Its key appeal lies in its accessibility and potential. The home's assessed value is notably low, even compared to its immediate area, which suggests a lower entry point for buyers. This isn't a move-in-ready showpiece, but a practical canvas.

The property would suit a specific type of buyer: first-time purchasers or investors looking for an affordable foothold in the market who are comfortable with a project. Its smaller scale means lower utility costs and less maintenance, while the unrenovated basement offers future expansion potential. A thoughtful perspective is that its age and smaller footprint compared to modern homes could be seen as a benefit for those seeking a simpler, more manageable living space without excessive rooms to furnish or heat. It’s a home for practicality over prestige.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than the city-wide average?
The assessed value is based on the property's specific characteristics—its smaller size, age, and condition—within its market context. It reflects its value relative to similar homes in Dufferin and on Powers Street, not compared to newer or larger homes across all of Winnipeg.

2. What does "below average" for Year Built mean for me?
Built in 1902, this home is older than most in the city. This typically means charming character but also requires a proactive approach to maintenance. Potential buyers should prioritize a thorough inspection to understand the condition of foundational elements, plumbing, and electrical systems.

3. The lot size is noted as "below average." How significant is this?
The lot is approximately 1,832 sqft, which is smaller than many in Winnipeg. This limits expansive outdoor space but also translates to less yard work. It's a trade-off that emphasizes the home's role as an efficient urban dwelling rather than a property with extensive grounds.

4. Are the recent sale prices relevant?
The home sold in 2021 for $80k and again in 2022 for $11.5k. The 2022 sale price appears to be a nominal transfer, not a market-value transaction. The 2021 sale is the more relevant market benchmark, but current conditions and the property's state should guide your offer.

5. Who is this home not for?
This property is likely not a fit for buyers seeking a turn-key home, those needing significant space for a growing family, or anyone unwilling to take on potential renovations or updates, particularly in the basement. It serves a specific need for affordability and basic shelter with future potential.