255 Nassau Street N

Property Overview: 255 Nassau Street N, Winnipeg

Key Characteristics, Appeal & Ideal Buyer

This is a classic two-and-a-half storey home in the established Earl Grey neighbourhood, built in 1906. Its key characteristic is offering above-average space, both in its 1,805 sqft living area and on its 4,239 sqft lot, compared to most homes on its street and in the area. The appeal lies in this generous footprint within a mature community, paired with a detached garage. The home presents a solid, unrenovated canvas with a functional basement.

Its statistical profile is telling: while the assessed value ranks highly for the area, the home is notably older than most. This creates a distinct value proposition. It would best suit a buyer who appreciates character and space over modern finishes—specifically, a practical renovator looking for a home with good bones and room to grow, or an investor who sees value in the substantial lot size and the enduring demand in central neighbourhoods. The appeal is less about immediate move-in readiness and more about underlying potential and location.

Frequently Asked Questions

1. What does "above average" for assessed value mean in this context?
It means this home’s official assessed value is higher than most comparable properties on Nassau Street and in Earl Grey. This often reflects the desirable lot size, living space, and location, but it's important to distinguish this from market value, which is determined by current buyer demand.

2. The home is noted as "unrenovated." What should I expect?
You should anticipate original or older building materials, fixtures, and systems consistent with a home of its era. While structurally sound, it likely requires modernizing. This is a key consideration for budgeting and is why the home suits buyers with renovation plans or tolerance for gradual updates.

3. How significant is the age of the home (built 1906)?
It is among the older homes in the area. This typically means charming architectural details but also necessitates careful attention to foundational integrity, plumbing, electrical wiring, and insulation during an inspection. Its longevity also speaks to the durability of its original construction.

4. The lot size is highlighted as a strength. Why is that important?
A lot of over 4,200 sqft in an inner-city neighbourhood like Earl Grey provides valuable outdoor space, potential for gardening, play areas, or future additions like a deck or patio. It also offers a greater sense of privacy and is a finite asset that contributes significantly to the property's long-term value.

5. How does the recent sale history influence the current price?
The home sold in December 2020 for $43,700. This provides a historical benchmark, but the current market value will be driven by today's market conditions, any changes made to the property since then, and how buyers now perceive its potential versus its need for updates.