Property Overview: 518 Centennial Street, Winnipeg
Key Characteristics & Buyer Profile
This two-storey home on Centennial Street presents a practical opportunity in Winnipeg's J.B. Mitchell neighbourhood. Its key characteristic is its relative modernity, having been built in 1988. This makes it notably newer than almost all homes on its street and in the immediate area, which typically date to the mid-1950s. For a buyer, this suggests potentially fewer concerns with outdated major systems and a layout that aligns more with contemporary living.
The appeal lies in this balance of a newer structure on an established lot. The living space of 1,103 sq ft is consistent with area averages, offering a manageable size for smaller households or first-time buyers. It features a detached garage and a basement (not renovated), providing storage and workshop potential. However, the lot size is compact, even for the city, which translates to lower outdoor maintenance but less private yard space.
This property would best suit a value-conscious buyer looking for a home that is younger than its neighbours, prioritizing the condition and era of the building itself over land size. It’s a pragmatic choice for someone who wants a foothold in an established area without the typical upkeep challenges of a 70-year-old house. The significantly below-average assessed value for the area also indicates it may be positioned as an accessible entry point or a project home with room to add value through updates.
Frequently Asked Questions
1. How does the age of this home compare to others nearby?
It is much newer. Built in 1988, it ranks in the top 9% for age on its street and the top 1% in J.B. Mitchell, where most comparable homes were built around 1954-1955.
2. Is the lot size a significant consideration?
Yes. The land area is approximately 2,700 sq ft, which is below average for the street, neighbourhood, and city-wide. This means a smaller yard, which could be a pro for low maintenance or a con for those seeking extensive outdoor space.
3. What does the "below average" assessed value indicate?
The home's assessed value is lower than about 85-97% of comparable properties on its street and in J.B. Mitchell. This doesn't dictate market price but can suggest the home is a relative value in the area or may require modernization.
4. Was the basement finished, and what is its condition?
The listing specifies a basement exists but that it is "not renovated." Buyers should budget for potential finishing or updates and investigate its current condition for moisture or foundational issues.
5. How can I find out the exact historical sale price?
The listed sale price from 2017 is a public range. The site states that exact sold price history can be obtained by emailing their team, which provides the accurate figure manually without using your email for unsolicited marketing.