Property Overview: 628 College Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home, built in 1914, presents a practical opportunity in the Inkster-Faraday neighbourhood. Its key characteristic is space efficiency: with 1,400 sqft of living area, it offers significantly more room than many comparable homes in the immediate area and ranks in the top 20% for size on its own street. This makes it a notably spacious option within its local context.
The appeal lies in its straightforward, no-frills profile. It features a detached garage and a full, unrenovated basement, offering functional space and potential for future customization. The lot, while smaller than average at 2,276 sqft, translates to lower maintenance. The home’s assessed value is modest and in line with local norms, suggesting an accessible entry point into the market.
This property would best suit a value-conscious buyer—perhaps a first-time homeowner, an investor, or a downsizer—who prioritizes interior space over a large yard and is comfortable with a home that has not been recently updated. It’s for someone who sees potential in a solid, century-old structure and is prepared for the maintenance or gradual improvements that come with it.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value is based on local market conditions. In the Inkster-Faraday area, property values are generally lower than the Winnipeg average. This home’s assessment is typical for the neighbourhood, reflecting its location and the age of the property.
2. What does "basement, not renovated" imply?
It indicates the basement is functional and usable but retains its original or older finishes and systems. Buyers should budget for potential updates to insulation, flooring, or utilities, but it also represents a blank canvas for future projects.
3. How does the smaller lot size affect the property?
The lot is below average in size for the city and the area. This means less exterior maintenance and yard work, which can be a benefit. However, it also limits potential for large additions, pools, or extensive landscaping.
4. The home sold in late 2022. What can that price range tell me?
The sold price range from 2022 provides a historical benchmark, but it does not reflect current market value. It’s most useful for understanding past market activity on the property, and any offer should be based on a current professional appraisal and market conditions.
5. The home is over 110 years old. What should I consider?
While the structure has proven its durability, key systems like plumbing, electrical, and the foundation may require inspection and potential upgrading. The charm and build quality of an older home come with the responsibility of proactive maintenance.