Property Overview: 647 Warsaw Avenue, Earl Grey, Winnipeg
Key Characteristics & Appeal
This two-storey home in the established Earl Grey neighbourhood presents a classic character home opportunity. Built in 1911, its 1,219 sqft living area is typical for the area, offering a comfortable footprint. The property’s primary appeal lies in its strong assessed value of $400k, which ranks well above average for both its street and neighbourhood, suggesting it is viewed as a solid asset in a desirable location. The lot, at 3,010 sqft, is modest but in line with many central neighbourhood plots.
Its charm is rooted in its heritage era and location, not in modern renovations. The basement is noted as unrenovated, there is no garage, and no pool, indicating this is a home for those willing to embrace its original state or undertake updates themselves. It would suit a buyer looking for a character home in a prime area without paying a premium for recent finishes, or an investor/renovator who sees value in the structure and location and is prepared to modernize it over time. A less obvious perspective is that the above-average assessment against an average-sized home could point to the value being heavily tied to the land and location—a sign of enduring neighbourhood desirability.
Frequently Asked Questions
1. What does "above average assessed value" mean in this context?
It means the city's tax assessment for this home is higher than most comparable properties on its street and in Earl Grey. This often reflects a combination of the home's condition, features, and, significantly, its sought-after location.
2. Is the unrenovated basement a major concern?
It depends on your plans. It presents a blank canvas for future development, adding potential value. However, it should be thoroughly inspected for moisture, foundation integrity, and necessary updates to wiring or plumbing before any renovation plans are made.
3. With no garage, what are the parking options?
The property likely relies on on-street parking, which is common in older neighbourhoods. Buyers should verify local parking regulations and consider the practicalities of street parking year-round, especially during Winnipeg winters.
4. How does the 1911 build date affect the home?
It offers classic character but also means potential for older building materials and systems. A specialized inspection for pre-war homes is advisable to understand the condition of the original plaster, wiring, plumbing, and insulation.
5. The home sold for $290k in 2016. Why is the assessed value now $400k?
The assessed value is for taxation purposes and reflects the city's valuation based on market trends and property data. The sale price from 2016 is a historical figure and doesn't reflect the current market or assessment, which has risen significantly in the intervening years.