Property Overview
This one-and-a-half storey home on Stella Avenue in Winnipeg's Dufferin neighbourhood presents a straightforward, value-oriented opportunity. Built in 1923, it offers 1,080 sqft of living space and sits on a 3,678 sqft lot with a detached garage. The basement is noted as unrenovated. Key data shows it is consistently "around average" for its immediate street and area in terms of living area, assessed value, and land size, positioning it as a typical home for this established community. Its last recorded sale was in 2017 for $130,000, aligning with its current assessed value.
Key Characteristics & Appeal
The primary appeal of this property lies in its affordability and its position as a standard, no-frills home in a long-established neighbourhood. It suits first-time buyers, investors, or downsizers seeking a functional entry point into the Winnipeg market without premium costs. Its assessed value is significantly below the city-wide average, highlighting its accessibility.
A more thoughtful perspective considers the stability this represents. Being consistently average for the area suggests lower volatility and predictable upkeep costs compared to more unique or outlier properties. The older home on a modest lot also implies a simpler, more manageable yard and exterior maintenance, which can be a hidden benefit for those seeking a lower-maintenance lifestyle without moving to a condo. The unrenovated basement, while a project, offers a blank canvas for future customization or storage without the premium of a finished space.
Frequently Asked Questions
1. What does "around average for the area" actually mean for a buyer?
It means the home's key metrics (size, value, lot) are typical for Dufferin. You're not overpaying for extra features nor getting an unusually small or large property. It suggests a stable, predictable investment that aligns with neighbourhood norms.
2. Is the basement usable in its current state?
The listing specifies it is "not renovated." It is likely functional for storage and utilities but will require investment to be finished as comfortable living space. This should be factored into renovation planning and budget.
3. How does the $130k assessed value compare to likely market price?
Assessed value is for municipal tax purposes and is often below market value. However, its last sale was at this price in 2017. A buyer should expect the market price to be influenced by current conditions, but this low assessment strongly indicates an accessible price point relative to the wider city.
4. What are the implications of the home being built in 1923?
Expect character common to early 20th-century homes, along with the potential for older systems (plumbing, wiring, insulation) that may need updating. Its age is actually "above average" for Stella Avenue, meaning it fits the street's historic fabric.
5. The lot is smaller than area averages. Is that a major drawback?
The lot is smaller than many in the city, but is typical for the local area. This can mean less yard work and a more efficient outdoor space. For buyers prioritizing low maintenance or a cozier streetscape over expansive private grounds, it can be a practical fit.