Property Overview
This one-and-three-quarter storey home on Selkirk Avenue is a classic Winnipeg character property built in 1907. With 1,089 square feet of living space and a standard city lot, its size is typical for the Dufferin area. The home has an unfinished basement and no garage. Its most defining characteristic is its significantly low municipal assessed value, which places it well below city-wide averages. This presents a clear opportunity for value-driven buyers, but also suggests the home may require modernization or investment.
Key Characteristics & Appeal
The primary appeal of this property lies in its potential. The low assessment and recent sale price indicate an entry point that is accessible for first-time buyers, investors, or those seeking a project. It suits a buyer comfortable with a home that has not been recently renovated and who sees value in its historic character and location. Its living area is functional and on par with the neighbourhood, making it a practical canvas.
A less obvious perspective is the advantage of its established lot in a mature neighbourhood, which often means larger trees and settled communities compared to new subdivisions. Additionally, a home of this age and assessment can offer financial flexibility; the lower property taxes relative to its potential post-renovation value can be a long-term benefit. It’s a property for a buyer whose vision extends beyond its current state, who is prepared for the realities of maintaining a century-old home, and who values the tangible feel of history over modern finishes.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
Assessed value is based on market trends and the property’s condition at a specific point in time. A low assessment often reflects the home’s age, its unfinished basement, lack of garage, and likely the need for updates compared to more modern or renovated homes city-wide.
2. What does "one & 3/4 storey" mean for the layout?
This style typically features full-sized rooms on the main floor and a second floor where the roofline slopes into the walls, creating some rooms with reduced ceiling height. It's a charming, classic Winnipeg design that maximizes space in a compact footprint.
3. Is the unfinished basement a major drawback?
It depends on your plans. While it means no finished living space or modern amenities downstairs, it also presents no obligation to undo someone else’s renovation. It offers ample storage and provides clear, open access to mechanical systems, which can be an advantage for future upgrades or DIY projects.
4. How does the lack of a garage affect daily living?
This is a common feature in older neighbourhoods. Buyers should plan for on-street parking and consider the seasonal realities of Winnipeg winters. For some, it’s a worthwhile trade-off for the neighbourhood character; for others, it may be a priority to add a parking pad or shed in the future.
5. The home is over 115 years old. What should I be most concerned about?
While charm is a major draw, key considerations for a home of this age include the condition of the foundation, roof, wiring, and plumbing. A thorough inspection is essential to understand the scope of any needed repairs, from cosmetic updates to critical structural or system replacements.