Property Summary: 694 Church Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home on a 4,554 sqft lot in Inkster-Faraday presents a straightforward, value-oriented opportunity. Its key characteristic is its modest 759 sqft living area, which is notably compact compared to most homes locally and citywide. The basement exists but is unrenovated, and the property includes a detached garage. Built in 1942, it is a classic Winnipeg wartime-era house.
The appeal lies in its fundamentals: a sizable lot for the neighbourhood, a manageable footprint for low-maintenance living, and an assessed value that sits around the average for its immediate area. It suits a specific type of buyer: a first-time purchaser, an investor, or a downsizer seeking an affordable entry into the market with land value forming a solid part of the equity. This is not a move-in-ready showhome but a potential canvas. Its value is in what it is—a structurally sound property on a good lot—and what it could be, whether through gradual updates, an addition to capitalize on the lot size, or simply as a long-term holding.
Section 2: Frequently Asked Questions
1. Is the price fair given the home's smaller size?
The assessed value is aligned with similar properties on the same street, suggesting the market accounts for the compact living space. The value is likely supported more by the land size and location than the current interior square footage.
2. What does "below average" for living area mean practically?
It means the home's interior is significantly smaller than typical. Buyers should be prepared for efficient use of space and prioritize a functional layout over spacious rooms. It may be ideal for one or two people.
3. The lot is noted as "above average" for Inkster-Faraday. What are the implications?
At over 4,500 sqft, the lot is larger than many in the neighbourhood. This offers more outdoor space, better potential for landscaping or gardening, and future possibilities like a shed, garage expansion, or even an addition, subject to zoning.
4. How should I interpret the sold price history from 2019?
The listed sale ranges from 2019 are historical benchmarks. The current value will be influenced by market conditions since then. For an exact sale price to inform your offer, you can request it via email from the site, as noted in the details.
5. What are the main considerations with an unrenovated basement?
An unrenovated basement means lower immediate costs but requires inspection for moisture, insulation, and structural integrity. It represents both a potential future project (for extra living space or storage) and a current factor in the home's energy efficiency and feel.