Property Overview
This home at 523 Flora Avenue presents a practical opportunity in Winnipeg's Dufferin neighbourhood. It's a one-and-a-half storey house built in 1902, featuring a renovated basement and 1,080 square feet of living space. The lot is a compact 2,816 square feet, and there is no garage or pool. Its key appeal lies in its position as a modest, no-frills property with a recently updated basement, situated on a street with many similar vintage homes. It suits first-time buyers, investors, or downsizers seeking an uncomplicated entry into the market with some modernized living space, and who are comfortable with a home whose historical character comes with the typical maintenance considerations of its age.
While its living area and assessed value are around average for its immediate area, the home stands out in broader comparisons: it is notably older and on a smaller lot than most city-wide averages. This creates a specific value proposition—it’s a home firmly rooted in the established scale and character of its local community, not in sprawling modern footprints. A thoughtful perspective is that this compact lot can mean lower exterior maintenance costs and less time spent on yard work, which can be a hidden benefit for the right owner.
Frequently Asked Questions
1. What does the assessed value tell me about the property?
The assessed value of $10,900 is around the middle range for the Dufferin area but is significantly below the Winnipeg city-wide average. This typically indicates the property is in a neighbourhood with more modestly valued homes, which can mean a lower property tax burden and an accessible purchase price.
2. How significant is the age of the home (built 1902)?
The age is a defining characteristic. It places the home among the older 10% on its street and in the city. Buyers should budget for potential updates to older mechanical systems, windows, or insulation, but can also appreciate the classic craftsmanship and layout of a period home.
3. The lot size is smaller than average. What are the implications?
The lot is under 3,000 square feet, which is smaller than most in Winnipeg. This limits expansive outdoor space but also reduces landscaping responsibilities and costs. It suggests a low-maintenance exterior, making it suitable for those who prefer a simpler yard or prioritize indoor living space.
4. What does having a "renovated basement" mean for livability?
A renovated basement effectively adds usable living area to the 1,080 sqft main floors. This is a major functional upgrade, potentially providing space for a family room, home office, or additional storage, and improving the home's overall utility and comfort.
5. Who would this property not be well-suited for?
It may not suit buyers looking for a large, modern lot, extensive square footage, garage parking, or a home that requires no ongoing updates. It's best for those with realistic expectations about an older home's needs and who value location and functional updates over size and newer construction.