Property Summary: 701 Fleet Avenue, Winnipeg
Key Characteristics & Appeal
This is a classic two-storey home in the established Earl Grey neighbourhood, built in 1914. With 1,208 sqft of living space, it offers a practical layout that is very much in line with the average for the area. A key feature is the renovated basement, which adds valuable finished space. The home sits on a modest 2,308 sqft lot, which is smaller than most in the city but typical for this older, central part of Winnipeg.
The primary appeal lies in its location within a sought-after neighbourhood and the value proposition it represents. Its assessed value is notably below the averages for its street, neighbourhood, and the wider city, which can be attractive for buyers looking for an entry point into a desirable area. This isn't a sprawling property; its charm is in being a manageable, character home in a prime location. It would suit first-time buyers, downsizers, or investors seeking a character property in Earl Grey without the premium price tag of a larger lot or a fully modernized build. The renovated basement adds immediate functionality, making it move-in ready for someone who appreciates classic architecture but may not want to tackle a major project.
Frequently Asked Questions
1. Is the smaller lot size a significant drawback?
While the lot is below average in size city-wide, it is quite typical for the Earl Grey area. This often means lower maintenance, which can be a benefit for many buyers. The trade-off is access to a mature, central neighbourhood without the yard work of a larger property.
2. The home was last sold in July 2022. What does that mean?
The recent sale suggests the current owners have had a relatively short tenure. It's wise to inquire about their reason for selling to understand if there are any underlying factors. Conversely, it may also indicate updates were made by the previous owner with the intention of a quick resale.
3. How does the assessed value relate to the likely sale price?
The assessed value ($250k) is for municipal tax purposes and is often below market value. Given that it's notably lower than area averages, the sale price will be more influenced by current market conditions, the home's updated condition, and buyer demand for the neighbourhood.
4. What are the implications of the home's age (1914)?
A home of this age offers character but requires due diligence. While the basement has been renovated, potential buyers should prioritize a thorough inspection to assess the state of major systems (plumbing, electrical, roof, foundation) common in century-old homes.
5. There's no garage. What are the parking options?
The listing indicates no garage. Buyers should verify on-street parking regulations with the city and observe the typical parking availability on Fleet Avenue during different times to gauge convenience.