Property Summary: 707 Warsaw Avenue, Earl Grey, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home in the established Earl Grey neighbourhood presents a compelling mix of space, location, and value. Its key characteristic is an exceptionally large lot—over 6,000 square feet—which ranks in the top 5% for the street and top 1% within the neighbourhood. This offers rare potential for gardening, expansion, or outdoor living in a central area. The living space (1,210 sq ft) is comfortably above average for both the street and Earl Grey, and the home benefits from a renovated basement. While built in 1950, it is notably newer than many neighbouring homes, suggesting potentially fewer concerns associated with very old infrastructure.
The appeal lies in its strong positional value. It sits on a desirable street where the property’s assessed value ranks in the top 11%, indicating it is considered a premium holding in its immediate context. The recent sale in August 2024 at $390,000 aligns with this assessment. It would suit buyers looking for a character home in a prime, central neighbourhood who prioritize land size over a brand-new build. It’s also a sensible option for those who appreciate a home that stands out for its lot size and assessed value within its peer group, rather than just city-wide comparisons.
Frequently Asked Questions
Q: How does the lot size compare to typical properties?
A: The lot is a significant feature at 6,019 sq ft. It is considered "Elite" for the area, meaning it is larger than 95% of lots on Warsaw Avenue and 99% of lots in the Earl Grey neighbourhood.
Q: The home was built in 1950. Is that older than most in the area?
A: Surprisingly, no. For both Warsaw Avenue and Earl Grey, a 1950 build date is actually above average (newer than most), as many comparable homes were built in the 1930s or earlier.
Q: What does the "assessed value" ranking tell me?
A: The assessed value of $41,900k ranks in the top 11% for the street and neighbourhood. This suggests the property is officially valued much higher than most direct comparables, which can be a marker of its perceived worth in that specific location.
Q: Has the property value increased?
A: Based on available sales data, the home sold for $32,100k in April 2017 and $390,000 in August 2024. This indicates substantial appreciation over that seven-year period.
Q: Is the living space large for the area?
A: At 1,210 sq ft, the living area is above the average for both Warsaw Avenue (1,167 sq ft) and the Earl Grey neighbourhood (1,206 sq ft), placing it in the top half of homes for size locally.