Property Overview: 726 Warsaw Avenue, Earl Grey, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1912, is a classic character property in the established Earl Grey neighbourhood. With 1,239 square feet of living space, it offers a size that is consistently "around average" for its immediate street, the wider neighbourhood, and the city, providing a comfortable footprint without being oversized. The lot is a manageable 3,123 sqft, typical for the area. A key financial characteristic is its below-average assessed value compared to the city, which can translate into relatively lower property taxes—a significant, ongoing cost savings for a buyer.
The primary appeal lies in its location within a mature, sought-after neighbourhood and the potential inherent in a home of this vintage. It suits a specific type of buyer: someone seeking a character home who is ready for a project. The basement is noted as "not renovated," suggesting the home may require updates or cosmetic improvements, making it ideal for a handy buyer, an investor looking to add value, or a purchaser wanting to customize a space to their own taste over time. It represents an entry point into a desirable area where many homes are more modernized and command higher prices.
Section 2: Frequently Asked Questions
1. What does "below average" assessed value mean for me?
While the sale price is determined by the market, the assessed value is used to calculate your annual property taxes. A below-average assessment for the city suggests your tax burden may be lower than for a similarly priced home in a newer suburb, which is an important long-term affordability factor.
2. Is the "not renovated" basement finished?
The listing specifies the basement exists but is "not renovated." This typically means it is unfinished or partially finished in a very basic, utilitarian state. It presents both a blank canvas for future development and an area that may require attention for moisture control or insulation.
3. How does the 1912 build year affect the home?
Homes from this era often feature solid construction and classic architectural details. However, prospective buyers should prioritize inspections for aging components like the roof, plumbing, electrical systems, and foundation, as updates may be needed or planned for.
4. The lot seems smaller than the city average. Is that a concern?
The lot is perfectly average for the Earl Grey neighbourhood. This is characteristic of established, inner-city communities where the focus is often on community parks and tree-lined streets rather than expansive private yards. It offers lower maintenance and a cozy, neighbourhood-oriented feel.
5. Who are the most likely buyers for this property?
This home is most suited to first-time buyers or downsizers who value location over move-in-ready perfection, and who have the vision or capacity to handle gradual updates. It's less likely to attract those seeking a modern, low-maintenance property without any projects.