Property Overview
833 Weatherdon Avenue is a compact, one-storey home built in 1947, situated in Winnipeg's Ebby-Wentworth neighbourhood. Its key appeal lies in its position as an accessible entry point into the housing market. The home itself is modest, with 600 sqft of living space and no basement or garage, placing it well below average in size for the area and city. However, it sits on a notably larger-than-average lot for the street (over 4,100 sqft), presenting a clear opportunity for expansion or outdoor use. With a very low assessed value and a recent sale price significantly higher than that assessment, it represents a classic "value-add" proposition. This property would suit a first-time buyer, an investor looking for a rental property with land potential, or a hands-on individual willing to live in it while planning a future renovation or addition. Its charm is not in its current condition but in its underlying land value and the possibilities it presents.
Frequently Asked Questions
1. Why is the sale price so much higher than the assessed value?
Assessed value is for municipal tax purposes and often lags behind market value, especially after a recent sale. The sale price reflects what a buyer was willing to pay in the current market, potentially based on the land value and renovation potential.
2. What are the implications of not having a basement?
It limits storage and mechanical/utility space. Heating systems and hot water tanks will be within the main living area, and any future expansion would need to be built outward or upward, not downward.
3. The lot is large for the area. What can I do with it?
Subject to local zoning and permits, the lot size allows for possibilities like a significant rear addition, a detached garage or workshop, or creating generous outdoor living space. It's the property's most valuable asset.
4. How does the age of the home (1947) affect things?
While the building is of average age for the immediate street, it will likely have older building materials, electrical, and plumbing systems. A thorough inspection is crucial to understand the condition and any needed updates.
5. The home ranks low for size and value locally. Is that a concern?
It indicates the home is currently an outlier on its street—smaller and less valuable than most neighbours. For a buyer, this can mean a lower entry cost but also suggests that any significant investment in renovation should be carefully planned to not over-improve relative to the area.