Property Summary: 782 Flora Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This bi-level home at 782 Flora Avenue in the Dufferin neighbourhood presents a distinct profile. Its key characteristic is its modern age, built in 2015, making it a rarity in an area dominated by century-old homes. This translates to appeal through potentially lower maintenance, modern building standards, and updated systems. The living space (836 sqft) is compact and efficient, suited for individuals, couples, or small families. The home sits on a standard city lot and features a renovated basement, adding functional space.
Its primary appeal lies in its statistical uniqueness. While its square footage is modest for the city, its assessed value ranks highly within its immediate area, suggesting it is viewed as a premium property on its street. This combination—a newer, low-maintenance home in an established, historic neighbourhood—creates a specific niche. It would best suit a buyer looking for a modern "lock-and-leave" lifestyle without leaving the city core, or an investor attracted by a newer asset in a transitioning area. It’s a practical choice for those who value modern infrastructure over ornate character, offering a foothold in Dufferin without the renovation demands of a heritage property.
Section 2: Frequently Asked Questions
1. Why is the assessed value so high compared to neighbouring homes?
The significantly higher assessment compared to older neighbours is primarily driven by the home's new construction year (2015). Modern materials, building codes, and systems are valued higher by assessors than those of century-old homes, reflecting different construction costs and depreciation schedules.
2. Is the living area sufficient for a family?
At 836 sqft, the living area is below the local average. The bi-level design with a renovated basement does provide additional finished space, but the main-floor footprint is compact. It is best suited for a small family or could feel confined for those accustomed to more spacious layouts.
3. What are the implications of having no garage?
The lack of a garage means relying on on-street parking. This is common in the neighbourhood but requires consideration for vehicle security, winter plug-ins, and daily convenience. The lot size is typical for the area, so adding a garage in the future would significantly reduce yard space.
4. How does the 2015 build date affect insurance and utilities?
A newer build like this may qualify for more favourable home insurance premiums due to modern electrical, plumbing, and roofing. Utility costs, particularly for heating and cooling, could also be more efficient and predictable compared to older, draftier homes in the area.
5. The home sold for a similar price in 2016. What does that indicate?
The stable sale price over several years, in contrast to rising city-wide averages, suggests the property's market value is closely tied to its specific modern-build premium in a lower-value historic area. It may not have experienced the same percentage gains as some other property types, indicating a unique market trajectory.