Property Overview
This two-storey home on Warsaw Avenue in Earl Grey presents a classic Winnipeg character property with practical updates. Its key appeal lies in offering a renovated basement within a well-established, central neighbourhood. At 1,040 sqft of living space, the home is modestly sized but sits close to the average for both the street and the area, making it a manageable footprint. A significant feature is the fully renovated basement, adding functional living space. The lot is smaller than many in the city, which can mean lower maintenance. Built in 1910, the home is notably older than most, suggesting classic charm but also a need for mindful upkeep.
This property would suit a first-time buyer or a downsizer looking for a character home in a prime location without an overly large yard to maintain. It’s also a practical fit for an investor seeking a rental in a desirable, stable neighbourhood, given the renovation work already completed. The value proposition is centered on location and move-in readiness rather than square footage.
Frequently Asked Questions
1. What does the renovated basement include?
The listing confirms the basement is renovated but does not specify the finish or rooms. A buyer should inquire about the quality of the renovation, ceiling height, proper egress, and whether it includes a legal suite or additional bedrooms.
2. How does the smaller lot size affect the property?
At 2,658 sqft, the lot is below average in size for Winnipeg. This typically translates to less outdoor maintenance and yard work, which can be a benefit for some, but may limit expansion possibilities or private outdoor space.
3. The home was built in 1910. What should I be aware of?
While the renovated basement is a plus, a home of this age will likely have original components elsewhere. Prospective buyers should pay special attention to the foundation, plumbing, electrical systems, and insulation during an inspection to understand future maintenance considerations.
4. There is no garage. What are the parking options?
The listing notes no garage. Buyers should verify if there is a dedicated driveway, a rear laneway for potential parking pad construction, or if the property relies on street parking, and check relevant city permits.
5. The assessed value seems low compared to the last sale price. Why?
The assessed value is for municipal tax purposes and often lags behind market value. The 2017 sale price of $260k provides a more historical market benchmark, but the current market value will be determined by recent comparable sales, condition, and market trends.