Property Overview: 618 Warsaw Avenue, Winnipeg
Key Characteristics & Appeal
This one-and-three-quarter storey home in Earl Grey presents a classic Winnipeg character property built in 1909. With 1,152 sqft of living space and a 3,571 sqft lot, its size is comfortably average for the immediate area. The home’s standout feature is its assessed value, which ranks in the top 20% on its street and top 16% in the Earl Grey neighbourhood, suggesting it is viewed as a solid asset relative to its local peers. It features a detached garage and an unrenovated basement, indicating potential for future customization.
Its appeal lies in a blend of established neighbourhood character and tangible value. For its age, the home holds a strong assessment, which may speak to its maintained condition, desirable location, or the inherent value of its lot. It would suit a buyer who appreciates the charm of an older home and sees potential in a property that is already well-regarded in assessment terms, possibly a first-time buyer or an investor looking for a character home in a central neighbourhood without a massive, high-maintenance yard. A thoughtful perspective is that while the home is older than most, its above-average assessment in the area could signal a more stable investment less prone to market fluctuations compared to newer, more highly assessed properties.
Frequently Asked Questions
1. What does the above-average assessed value actually indicate?
It primarily indicates that the municipal property assessment is higher than many comparable homes nearby. This can reflect factors like lot desirability, solid construction, or recent market activity on the street, but it's not a direct appraisal of current market value.
2. The basement is noted as "not renovated." What should I expect?
You should anticipate a functional but unfinished space typical of a home of this era. It likely provides essential utilities and storage but would require investment to modernize or convert into living space.
3. How does the 1909 build year affect ownership?
It means the home has enduring character but requires a proactive approach to maintenance. Systems like plumbing, wiring, or the foundation may have been updated over time, so inspections are crucial to understand the current state and any upcoming needs.
4. The lot size is noted as "above average" for Earl Grey but "below average" citywide. Which is more relevant?
For daily living and neighbourhood context, the Earl Grey comparison is more relevant. It means the yard is a good size for the central, established area, though it wouldn’t be considered large by suburban standards.
5. The home last sold in 2021. What does the price history show?
It shows a significant increase in sale price between 2016 and 2021. This trajectory is worth discussing with a real estate professional to understand how it fits with area trends and the home’s specific updates during that period.