Property Overview: 805 Flora Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home in Dufferin, built in 1941, presents a practical and updated living space. Its key feature is a renovated basement, adding valuable finished square footage to the 1,056 sqft main living area. The home sits on a standard city lot and includes a detached garage.
The primary appeal lies in its strong value within its immediate neighborhood. The assessed value is notably above average for both Flora Avenue and the wider Dufferin area, suggesting it is a well-regarded property in its local context. This, combined with the modernized basement, indicates a home that has been maintained and improved relative to its peers. It suits first-time buyers or practical downsizers looking for a move-in-ready character home without the premium of a newer suburb. It’s also a sensible choice for value-focused investors or buyers who prioritize equity in a established community over a larger lot or newer construction date.
A less obvious perspective is that its "below average" citywide rankings for land size and year built are actually a marker of its authentic, central location. You’re buying into a mature neighborhood with settled charm, not a sprawling newer subdivision. The recent sale history shows significant price appreciation, highlighting the area's ongoing desirability.
Section 2: Frequently Asked Questions
1. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal, separate suite. Buyers should verify with the city for permits and compliance if considering rental income.
2. How does the assessed value compare to the likely asking price?
While the assessed value is strong for the area, it is a municipal valuation for tax purposes. Market value is determined by recent sales, condition, and demand. The 2019 sale at $200k provides a more recent benchmark.
3. What are the implications of a detached garage?
A detached garage offers flexibility (e.g., workshop space) but means navigating outdoors in Winnipeg winters. Check the condition and if it includes power.
4. The home is older—what should I check?
For a 1941 home, even with updates, priority inspections should include the foundation, roof age, wiring, and plumbing to understand any upcoming maintenance inherent to older properties.
5. The lot is smaller than the city average. Is that a drawback?
This depends on lifestyle. The lot is typical for the central neighborhood and means less yard maintenance. It may limit expansion possibilities but contributes to the community's walkable, compact feel.