Property Overview
This two-storey home at 786 Stella Avenue in Winnipeg's Dufferin neighbourhood presents a classic, no-frills opportunity. Built in 1905, it offers 1,164 sqft of living space on a 3,678 sqft lot, with an unfinished basement and no garage. Its key metrics—living area, assessed value, and lot size—consistently rank around the average for its immediate street and neighbourhood, positioning it as a straightforward, typical property for the area. The appeal here is grounded in simplicity and potential. It suits a first-time homebuyer, an investor, or a hands-on owner who values a central location without premium pricing and sees the unfinished basement as a blank canvas for future projects, not a drawback. It’s a property for those comfortable with a home’s history, where value is derived more from location and lot than from modern finishes or size.
Frequently Asked Questions
1. What is the true condition of the property?
The listing notes the basement is "not renovated," which typically means it remains in an original, unfinished state. Prospective buyers should budget for potential updates to mechanical systems, insulation, or foundational repairs common in homes of this era.
2. How does the assessed value relate to the likely market price?
The city assessed value is significantly lower than the average citywide, but aligns with neighbourhood norms. This often indicates the market price will be driven more by local Dufferin area comparables and current demand rather than the municipal assessment.
3. Is the lack of a garage a major concern?
For this neighbourhood and property type, the absence of a garage is common. Buyers should assess on-street parking availability and consider the cost of adding a shed or future parking structure if needed.
4. What are the implications of the home's age (1905)?
The 121-year-old foundation offers character but requires diligent inspection for heritage features, knob-and-tube wiring, original plumbing, and insulation standards. Its age is typical for the street, suggesting a well-established streetscape.
5. Who are the most likely neighbours or comparable buyers?
The nearby reference properties range from larger, higher-value homes to very modest ones, indicating a mixed, ungentrified block. Buyers will likely be practical, budget-conscious individuals or families seeking an entry point into the city’s core neighbourhoods.