724 Carter Avenue

Property Overview: 724 Carter Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This is a compact, one-storey home built in 1924, situated on a modestly sized lot in the Ebby-Wentworth neighbourhood. With 838 sqft of living space and an unrenovated basement, it presents as a straightforward, no-frills property. Its assessed value is notably below the citywide average, reflecting its smaller scale and vintage.

The primary appeal lies in its position as an accessible entry point into the Winnipeg market. It suits first-time buyers, downsizers, or investors seeking a lower-priced asset with foundational utility. A thoughtful perspective is its location within an established neighbourhood where most homes are of a similar era, offering a consistent streetscape. While the home itself is below average in size and modern amenities for the city, it is more in line with the local area's profile, suggesting it's priced for its specific context rather than being an outlier. The recent sale history indicates a significant price adjustment, which may present a value opportunity for a buyer comfortable with a home that requires personalization or who prioritizes location and lot ownership over square footage.

Section 2: Frequently Asked Questions

1. Is this a "fixer-upper"?
The listing notes the basement is "not renovated," which typically suggests it's in original or functional condition but not modernized. The overall vintage (1924) implies that while livable, updates to systems, insulation, or layout may be desired over time.

2. How does the lot size impact the property?
At 2,499 sqft, the lot is smaller than most in both the immediate area and citywide. This means lower maintenance but also limited space for expansions, large gardens, or detached structures. It contributes to the home's affordability.

3. What does the sale history tell us?
The property sold for $243,000 in late 2023, after previously selling for $170,000 in 2016. This recent sale provides a clear, current market benchmark and suggests a stabilization in value following a period of increase.

4. Who are the typical neighbours?
Nearby properties on Carter Avenue are of similar age and scale. The "comparable homes" data indicates you are buying into a mature, settled part of the neighbourhood rather than an area of large new builds or major redevelopment.

5. Why is the assessed value different from the recent sale price?
The city's assessed value for taxation purposes ($240k) is close to the late 2023 sale price ($243k). This alignment is a positive sign, indicating the sale price is consistent with the municipal assessment and not an anomaly.