Property Overview: 694 Stella Avenue, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home on Stella Avenue in the Dufferin neighbourhood presents a classic Winnipeg character home opportunity. Built in 1942, its key appeal lies in its generous 7,356 sqft lot, which is significantly larger than most in the area and city, offering ample outdoor space and future potential. With 1,146 sqft of living space, the home is functionally sized and sits above average for its assessed value within its immediate locale. It features a detached garage and an unrenovated basement, positioning it as a solid canvas for personalization.
The property suits buyers looking for a home with strong foundational value in a well-established neighbourhood. It’s ideal for someone comfortable with a home that may require updates, valuing lot size and location over modern finishes. A thoughtful perspective is that while the home is older than the city average, its above-average ranking for year built on its own street suggests it is one of the more recent constructions in a historic area, potentially meaning somewhat newer systems or materials. Its high citywide ranking for land area underscores a rare commodity—expansive urban lots—which appeals to those prioritizing private outdoor space, gardening, or future expansion over a large interior footprint.
Frequently Asked Questions
1. What does "above average for assessed value" in the neighbourhood mean?
This indicates the municipal property assessment for this home is higher than most comparable homes on Stella Avenue and in Dufferin. It often reflects the perceived market value based on factors like lot size and location, but it is not a direct market price.
2. Is the unrenovated basement finished?
The listing specifies the basement is "not renovated," which typically means it is unfinished or in original condition, presenting both a blank slate for development and a clear indicator of potential future projects.
3. How does the large lot size impact property costs?
A larger lot can increase property taxes (tied to assessed value) and may raise maintenance demands (like lawn care or landscaping). However, it also provides greater privacy, space for additions, gardens, or recreational use, which is a major long-term asset.
4. The home is older than the city average. Should I be concerned?
While built in 1942, it ranks as a relatively newer home on its own street. This suggests the neighbourhood's charm comes with older infrastructure, so a thorough inspection for era-appropriate updates to wiring, plumbing, and insulation is essential.
5. Who are the most likely buyers for this property?
It best suits practical buyers, DIY enthusiasts, or investors looking for a character home with a premier lot size. It appeals to those who see value in land and location and are prepared to tailor the interior to their tastes over time.