826 Flora Avenue

Property Overview

This home at 826 Flora Avenue in Winnipeg's Dufferin neighbourhood presents a distinct opportunity defined by its generous lot and historic roots. Built in 1907, it's a one-and-three-quarter storey house with 1,212 sqft of living space, a detached garage, and an unrenovated basement. Its most compelling feature is the 7,366 sqft lot, which is exceptionally large for the area, ranking in the top 4% on its street. The home recently sold for $140,000, a price point significantly below the citywide average for comparable properties.

The primary appeal lies in its land value and potential. The expansive lot offers rare possibilities for gardening, expansion, or future redevelopment in an established inner-city neighbourhood. It suits a specific type of buyer: a hands-on homeowner, investor, or builder who sees value in the property's underlying assets rather than a move-in-ready condition. This buyer is likely prepared to invest in updates over time, valuing the character and location while having the vision and budget to realize the property's potential. A less obvious perspective is that the below-average assessed value and sale price, paired with the elite-sized lot, suggest the existing structure is valued minimally, making this essentially a land play with a historic house included.

Frequently Asked Questions

1. What does "unrenovated basement" typically mean?
In a home of this era, it usually indicates a functional but unfinished space with original foundations, flooring, and mechanicals. It may be suited for storage and utilities but would require significant work to become a finished living area.

2. How does the low sale price compare to the assessed value?
The sale price of $140k is substantially higher than the $9,500 municipal assessed value. This is common, as assessed value for tax purposes often lags behind market value, especially after a recent sale. The price reflects the current market valuation of both the land and the dwelling.

3. Is the large lot size a benefit for future expansion?
Absolutely. The lot is the property's standout feature. It provides ample yard space and significant flexibility for additions, a new garage, or landscaping projects that wouldn't be possible on a standard city lot, subject to local zoning bylaws.

4. What should I consider with a home built in 1907?
Prospective buyers should budget for and investigate updates to major systems like wiring, plumbing, and insulation. The character of an older home comes with the responsibility of maintaining its structure and ensuring modern safety and efficiency standards are met.

5. Who are the typical neighbours in this area?
The Dufferin neighbourhood features a mix of long-time residents and newer homeowners attracted to its central location and character homes. The immediate proximity of other early-1900s houses on Flora Avenue suggests a stable, established streetscape.