Property Overview: 720 Warsaw Avenue, Earl Grey, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1910, presents a classic character home opportunity in the established Earl Grey neighbourhood. With 1,082 sqft of living space on a 3,542 sqft lot, its metrics are consistently "around average" for its immediate street and area, suggesting it fits comfortably within the local context without standing out for extreme size or value. Its assessed value is notably modest compared to city-wide averages, which may indicate a lower property tax burden relative to many Winnipeg homes.
The primary appeal lies in its location and potential. The lot size is above average for Earl Grey, offering valuable outdoor space in a mature neighbourhood. As a 116-year-old home with an unrenovated basement and no garage, it is not a move-in-ready modern showpiece. Instead, it suits a specific buyer: someone seeking an affordable entry into a desirable area, willing to take on a project. This could be a first-time buyer, an investor looking for a character rental, or a homeowner with a vision for gradual, sweat-equity renovations. Its age and condition suggest that its true value is unlocked through personalization and updates, making it less appealing to those seeking immediate convenience or new construction.
Section 2: Frequently Asked Questions
1. What does "around average" for key metrics really mean for a buyer?
It means this home is typical for Warsaw Avenue and Earl Grey in terms of size and official value. You're not paying a premium for exceptional square footage, nor are you getting a deeply discounted outlier. It represents a stable, mid-range property within its specific community.
2. How significant is the "unrenovated basement"?
This is a major factor. It likely means the basement is in original or utility-only condition, lacking finished living space. It presents both a cost (for any desired upgrades) and an opportunity (to customize insulation, layout, and systems without undoing previous work).
3. The home is older than most on the street. Should I be concerned?
Its 1910 build date places it in the oldest third of homes locally. This typically means charming character but also necessitates thorough inspections for foundational integrity, outdated wiring or plumbing, and historical maintenance standards. Budgeting for these inherent issues is crucial.
4. With no garage, what are the parking options?
The property likely relies on street parking. It's wise to check local bylaws for any restrictions and observe parking availability at different times to gauge convenience.
5. The assessed value seems low compared to the last sale price in 2020. Why?
Municipal assessed value for tax purposes often lags behind market sale prices and doesn't always correlate directly. The sale price from 2020 reflects the market at that time, while the assessment is an administrative valuation. A current market evaluation is essential to understand its true listing or offer value.