Property Overview
637 Warsaw Avenue is a classic two-storey home in Winnipeg's Earl Grey neighbourhood. Built in 1912, it offers 1,320 sqft of living space, which is notably above average for its immediate street. The property sits on a 3,010 sqft lot and features a basement that is present but not renovated. There is no garage or pool. The home last sold in March 2023 for $270,000, and its current assessed value is $28,500.
Key Characteristics & Appeal
The primary appeal of this home lies in its location and its solid, traditional footprint. The living area is spacious compared to other homes on Warsaw Avenue, offering more room than many neighbouring properties. Its assessed value is modest relative to the city, which can translate to lower property taxes—a significant, ongoing cost savings. The Earl Grey neighbourhood itself is a established, central community with a quiet, residential character.
This property would suit a pragmatic buyer who values space and location over turn-key condition. It’s ideal for a handy homeowner or an investor comfortable with a basement that needs work and the general upkeep of a century-old home. The appeal is not in luxury finishes, but in the potential and fundamentals: a larger-than-average interior for the area, a manageable lot, and the financial advantage of a lower assessment. It represents an entry point into a desirable neighbourhood for those willing to put in sweat equity.
Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sale price?
Assessed value in Manitoba is set by the provincial assessor for taxation purposes and often lags behind market value, which is determined by what a buyer is willing to pay. The 2023 sale price of $270,000 is the current market benchmark.
2. What does "basement not renovated" imply?
It typically means the basement is in original or utility condition. Buyers should budget for potential updates to flooring, walls, and lighting, and should have the foundation and moisture control inspected.
3. How does the lot size impact this property?
At 3,010 sqft, the lot is smaller than many in the city and on its own street. This means lower exterior maintenance but also limited space for additions, extensive landscaping, or future detached structures like a garage.
4. Is the older year of construction (1912) a concern?
It comes with both character and considerations. While the home has stood for over a century, a thorough inspection for outdated wiring, plumbing, insulation, and the overall integrity of the structure is essential.
5. Who might this property not suit?
It may not suit buyers seeking a modern, maintenance-free home or those who require a garage. The need for basement updates and the general upkeep of an older home requires a willingness to invest time or money into improvements.