Property Overview
This 1,120 sqft one-and-a-half storey home, built in 1922, sits on a modest 2,309 sqft lot in Winnipeg's Earl Grey neighbourhood. Its key updated feature is a renovated basement, and it includes a detached garage. The home last sold in 2016 for $280,000 and currently holds an assessed value of $36,10k. Compared to the local area, its living space is average for the neighbourhood, while its assessed value ranks above average within Earl Grey, suggesting it may be viewed favorably relative to nearby properties.
Key Characteristics & Appeal
This property’s main appeal lies in its balance of classic charm and practical updates within a well-regarded neighbourhood. The renovated basement adds functional living space, a valuable asset in a home of this size. Its above-average assessment for Earl Grey indicates a perceived value that outpaces many immediate peers, which could be attractive for value-conscious buyers.
The home would suit first-time buyers or small families looking for an established character home with some modern touches, without the upkeep of a large yard. The compact lot is a trade-off: it means less outdoor maintenance but also limited private outdoor space. A thoughtful perspective is that while the lot size is significantly below city averages, this can contribute to a more walkable, community-oriented lifestyle in a mature neighbourhood like Earl Grey, where amenities and parks are often close by.
Frequently Asked Questions
1. How does the assessed value compare to the last sale price?
The home was last sold for $280,000 in 2016 and is currently assessed at $36,10k. It's important to consult with a real estate professional for a current market valuation, as assessed value for taxes and market value can differ.
2. What does the "above average" assessed value for Earl Grey mean?
This indicates the property’s assessed value is higher than roughly 76% of comparable homes in the Earl Grey neighbourhood, which may reflect updates, condition, or specific attributes valued by the assessor.
3. Is the lot size a concern?
At 2,309 sqft, the lot is below average for both the street and the city. This means a smaller yard, which minimizes maintenance but also limits expansion potential and private outdoor space.
4. What are the implications of the home's age?
Built in 1922, the home has classic character but may require attention to aging components like plumbing, electrical, or the foundation. A thorough inspection is essential.
5. What is the neighbourhood like?
Earl Grey is a mature, central Winnipeg neighbourhood known for its community feel, older homes, and proximity to schools, parks, and amenities like the Earl Grey Community Centre.