Property Overview
This one-and-a-half storey home at 857 Stella Avenue in Winnipeg's Dufferin neighbourhood presents a distinct value proposition centered on its land. Built in 1945, the 809 sqft house is modest in size and features an unrenovated basement and a detached garage. Its primary appeal lies in its exceptionally large 7,367 sqft lot, which ranks in the top 3% locally. While the living space is below area averages, the property's assessed value is competitive for the immediate street and neighbourhood. It last sold in 2013 for $130,000.
This property would suit a specific buyer: a hands-on individual or investor looking for a home with significant outdoor space or future potential in a well-established area. It's a candidate for those comfortable with a project, whether that's renovating the existing structure, utilizing the expansive yard, or considering long-term redevelopment possibilities. It is less suited for those seeking immediate move-in condition or maximum interior square footage.
Frequently Asked Questions
Q: The house seems small. What are the positives?
A: The key advantage is the lot size, which is substantially larger than most in the area. This offers rare potential for gardening, outdoor living, adding structures like a workshop or large shed, or simply enjoying more private space.
Q: What does "assessed value" mean in this context?
A: The city's assessed value for tax purposes is $15,700. This is not the market price. It indicates the property is valued lower than the citywide average, but is typical for its own neighbourhood. The sale price will be determined by the current market.
Q: Is the basement finished?
A: No, the basement is noted as "not renovated." This means it is in a basic, utilitarian state, offering storage and mechanicals but not finished living space. It presents both a blank canvas and a potential future project.
Q: How does the 2013 sale price relate to today's value?
A: The $130,000 sale from over a decade ago provides historical context but is not a direct indicator of current value. Market conditions, property changes, and area development since then will heavily influence the present price.
Q: Who would this property not be a good fit for?
A: It may not suit buyers who prioritize modern, low-maintenance living or need ample indoor space immediately. The smaller, older home and the likelihood of needed updates make it better for vision-oriented buyers rather than those seeking turn-key convenience.