Property Overview
This one-and-a-half storey home at 728 Atlantic Avenue in Winnipeg's Inkster-Faraday neighbourhood presents a practical, no-frills homeownership opportunity. Built in 1947, it features 832 square feet of living space, a renovated basement, and a detached garage on a standard 3,677 sqft lot. Its appeal lies in its straightforward functionality and relative affordability within the city. The home suits first-time buyers seeking an entry point into the market, practical investors looking for a manageable rental property, or downsizers who value a compact, single-level living space (main floor) without the upkeep of a larger property. A less obvious perspective is its appeal to those interested in "value-add" projects; while the basement is renovated, the main living area's smaller size and vintage offer a clear canvas for modernization tailored to the owner's taste, potentially increasing both livability and value over time.
Key Details & FAQs
- Key Characteristics: 832 sqft, 1.5 storey, built in 1947. Features include a renovated basement and a detached garage. The lot is 3,677 sqft.
- Neighbourhood Context: In Inkster-Faraday, the home's assessed value and land size are around the neighbourhood average. Notably, for its year built, it is newer than 90% of comparable homes in the area.
- Recent Sale: The property last sold in October 2021 for an estimated price between $21,500 and $24,500.
Frequently Asked Questions
1. Is this a small house?
Yes, at 832 square feet, the living area is below the Winnipeg city average. This makes it a compact home, likely with one or two bedrooms, ideal for individuals, couples, or small families.
2. What does "renovated basement" typically mean for a home of this age?
While specifics aren't listed, in a 1947 home this often means foundational updates have been made, such as moisture control, insulation, electrical, and finishing. It adds functional living or utility space but may retain the home's original character upstairs.
3. The assessed value seems low. What does that indicate?
The municipal assessed value ( $21,800 ) is for taxation purposes and is not the market price. It reflects the city's valuation formula. The actual market value is influenced by current conditions, the home's interior condition, and recent sales of similar properties.
4. Who would this neighbourhood suit?
Inkster-Faraday is a mature, established neighbourhood. It suits buyers looking for a central Winnipeg location without the premium price of trendier areas, and who appreciate the character and practicality of a long-standing community.
5. The home is older. What should I consider?
Built in 1947, expect classic construction charm but also potential for older plumbing, wiring, and windows. The "newer than average for the area" status is a positive, but a thorough inspection is essential to understand the condition of major systems and the structure.