507 Stella Avenue

Property Overview: 507 Stella Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This is a classic, century-old one-and-three-quarter storey home in Winnipeg's Dufferin neighbourhood. With 1,116 sqft of living space and a 3,678 sqft lot, its size is very typical for the immediate area. The home presents a straightforward opportunity: it's a historically authentic property with an unrenovated basement and no garage, reflected in its assessed value which is modest for the city but average for its local context.

Its primary appeal lies in its position as an affordable entry point into the Winnipeg market, particularly for a stand-alone house. It suits buyers looking for a project—whether that means living in it "as-is" while saving for renovations, or someone with the vision and capability to gradually restore and modernize a character home. A less obvious perspective is its potential for those interested in the history and architectural simplicity of early 1900s Winnipeg homes, offering a tangible connection to the city's past without the premium of a fully restored heritage property.

Section 2: Frequently Asked Questions

1. What does "one-and-three-quarter storey" mean?
This is a common Winnipeg architectural style where the second floor has slightly less full-height ceiling space than the main floor, often featuring sloped ceilings or dormer windows, providing a cozy, efficient layout.

2. Is the low assessed value a concern?
The assessed value is comparative. It is average for Stella Avenue and the Dufferin area, but well below the citywide average. This typically indicates a more basic, unrenovated home in a neighbourhood with affordable property values, not necessarily a problem with the property itself.

3. What should I know about a home built in 1900?
Prospective buyers should budget for and prioritize a thorough inspection. While these homes are solidly built, original components like wiring, plumbing, insulation, and the foundation may need evaluation and updating to meet modern standards and efficiency.

4. How does the lack of a garage and unrenovated basement affect livability?
It emphasizes the home's role as a practical living space rather than a modern showcase. You will have storage and utility space in the basement, but it will be in original condition. On-street parking is the norm here, which is common for the neighbourhood.

5. The home sold recently in October 2023. What does that indicate?
The recent sale suggests the market has very recently established a price point for the property in its current condition. It can be a useful benchmark, but buyers should investigate what, if any, changes have been made since that sale.