Property Summary: 578 Machray Avenue
Section 1: Key Characteristics & Appeal
This two-storey home on Machray Avenue is a classic Winnipeg character home, built in 1912. Its primary appeal lies in offering above-average interior space for the Inkster-Faraday neighbourhood, with 1,350 sqft of living area—significantly more than the local average. The basement has been renovated, adding functional living space. The property suits practical, value-conscious buyers such as first-time homeowners or small families who prioritize interior square footage and a renovated basement over a large yard or a modern build date. It represents a grounded opportunity in a mature neighbourhood, where the home itself offers more room than many nearby properties, even though the lot size is standard for the area and the assessed value is notably modest.
A thoughtful perspective: while its assessed value ranks in the lower tiers, this can signal a lower property tax burden and potential for value growth through updates. The home’s age and character come with the trade-off of higher maintenance considerations, but for the right buyer, it provides a canvas to add personal value over time.
Section 2: Frequently Asked Questions
1. How does the home’s size compare to others in the area?
At 1,350 sqft, the living area is in the top 12% for the Inkster-Faraday neighbourhood, meaning it is notably larger than most comparable local homes, which average about 1,025 sqft.
2. Why is the assessed value relatively low?
The assessed value of $18,400 is below average for the street, neighbourhood, and city. This is likely influenced by the home’s age (1912), lot size, and local market comparisons. It typically results in lower annual property taxes.
3. What should I consider about a home built in 1912?
While offering character, a home of this age may require careful attention to foundational, electrical, and plumbing systems. A thorough inspection is essential to understand the condition and any needed updates or maintenance.
4. Is the lot size a limitation?
The lot is 3,897 sqft, which is around average for Inkster-Faraday but below average for the street and city. It provides a standard urban yard space but may not suit those seeking extensive outdoor areas for gardening or recreation.
5. Who would this property be best suited for?
It’s well-suited for first-time buyers or practical investors who value more interior space and a renovated basement over a new build or a large lot. It’s a value-oriented choice in an established neighbourhood.