Property Overview: 710 College Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1912, presents a straightforward opportunity in Winnipeg's Inkster-Faraday neighbourhood. Its key characteristic is its modest scale, with 900 sqft of living space and a 2,313 sqft lot, both notably smaller than local and city-wide averages. The home has an unfinished basement and no garage. The appeal lies almost entirely in its position as an entry-point property, underscored by a very low municipal assessed value of $12,600. This suggests it is likely a fixer-upper or a teardown candidate, rather than a move-in-ready home.
It would suit a specific type of buyer: investors or handy first-time purchasers with a clear plan and budget for significant renovation. Its low assessed value indicates potentially very low property taxes, which could be attractive for holding the land. The appeal is not in its current condition or size, but in the underlying value of the lot and the opportunity to create equity through sweat equity or redevelopment, in a city where average property values are significantly higher.
A less obvious perspective is that its older age (1912) is actually around average for its immediate street, meaning the neighbourhood character is established. While the stats show it ranks below average in most metrics, for the right buyer, this translates to a lower barrier to entry in the market.
Section 2: Frequently Asked Questions
1. What does the very low assessed value indicate?
The assessed value of $12,600 is far below city averages and typically reflects the municipality's valuation of the property in its current state. This strongly suggests the home requires major renovation or may be considered a land value purchase, but it also points to proportionally lower annual property taxes.
2. How does the living space compare to nearby homes?
At 900 sqft, the living area is smaller than most comparable homes on College Avenue (avg. ~1,134 sqft) and in Winnipeg overall. This confirms it's a compact home, which may appeal to those seeking minimal upkeep or a project to expand, subject to zoning.
3. Is the basement finished?
No, the listing specifies the basement is not renovated. Buyers should budget for any desired basement development and investigate its condition, including ceiling height, moisture, and utility setup.
4. What is the recent sales history for the property?
Public data indicates it last sold between May 2021 for an estimated $9,500–$12,500. For the exact sale price, you must request it directly from the source providing this data.
5. How does the lot size impact potential?
The 2,313 sqft lot is smaller than most in the area. This may limit options for large additions or detached structures like a garage. Any redevelopment plans should start with verifying zoning bylaws for setbacks, coverage, and permissible building forms to understand the full potential of the parcel.