Property Overview: 740 Stella Avenue, Winnipeg
Key Characteristics & Appeal
This is a one-and-a-half storey home in the Dufferin neighbourhood, built in 1945. Its primary appeal lies in its generous, above-average lot size of over 7,350 square feet, offering significant outdoor space that is rare for the area. The house itself, at 1,056 sqft, is modest and typical for the street, featuring a detached garage and an unrenovated basement. The assessed value is notably low, which can indicate lower property taxes but also suggests the home may require modernization.
This property would suit a practical buyer looking for a long-term project. It’s ideal for someone who values private outdoor space for gardening, children, or future additions more than immediate move-in readiness. The large lot presents a clear value-add opportunity, whether for landscaping, a future workshop, or simply as a rarity in the city. It’s a home for a buyer comfortable with a house that has character and history, and who sees potential beyond its current condition.
Frequently Asked Questions
1. What does "unrenovated basement" typically imply?
It usually means the basement is in its original, functional state. Expect a concrete floor, basic finishes, and older mechanical systems (like the furnace or plumbing). It offers usable space for storage or a laundry area, but any finished living space would require a full renovation.
2. The assessed value seems very low compared to city averages. Why?
Property assessment is based on a mass appraisal system considering factors like location, size, age, and condition. A low assessment often reflects the home’s age, the specific local market in Dufferin, and its unrenovated state. It does not necessarily reflect the current market sale price, but it generally correlates with lower annual property taxes.
3. How does the large lot size benefit me?
Beyond personal outdoor space, a larger lot provides flexibility. It can accommodate larger gardens, play structures, or parking solutions more easily than standard lots. It may also offer better potential for future expansions (like an addition or a larger garage), subject to city zoning bylaws.
4. Is a home from 1945 a concern?
Homes of this era were built with solid materials, like true dimensional lumber. However, key considerations include the age and condition of major systems (roof, wiring, plumbing, insulation) and the potential for materials like original lead paint or asbestos, which were common at the time. A thorough home inspection is essential.
5. What is the neighbourhood (Dufferin) like?
Dufferin is an established, central neighbourhood with a mix of historic homes and more modest properties. It offers character and convenience, with proximity to downtown, The Forks, and major routes. As with any central area, it's wise to visit at different times to get a feel for the specific street and local amenities.