535 Centennial Street

Property Overview: 535 Centennial Street, Winnipeg

Key Characteristics & Appeal

This one-storey home in the J.B. Mitchell neighbourhood presents a practical and grounded opportunity. Built in 1955, its 1,086 sqft living area and $390k assessed value are squarely in the average range for both the street and the wider city, indicating a stable, no-surprises investment profile. Its standout feature is a notably renovated basement, adding valuable finished space, and it includes a detached garage.

The appeal lies in its balance and potential. The lot size of 5,101 sqft is above average for Centennial Street, offering more outdoor space than many immediate neighbours—a subtle advantage for gardening, play, or future expansion. While the home itself is of average size and vintage for the area, the renovated basement moves it beyond a pure fixer-upper, providing immediate livable space. This property would suit first-time buyers or downsizers looking for a manageable, single-level layout in an established neighbourhood, without the premium of a brand-new home. It’s also a sensible fit for a pragmatic investor seeking a property with baseline updates in a stable market segment, where the land itself offers a relative strength.

Frequently Asked Questions

1. How does this home’s value compare to others nearby?
The home’s assessed value of $390k is around the average for Centennial Street and the J.B. Mitchell neighbourhood. It ranks in the middle of the pack, suggesting it is priced consistently with the local market rather than being an outlier.

2. What is the significance of the lot size being "above average" for the street?
With a 5,101 sqft lot ranking in the top 30% on Centennial Street, this property offers more usable outdoor space than many comparable homes. This can provide more privacy, room for landscaping, or future projects like a shed or deck.

3. The home was last sold in 2020. What can be inferred from that sale price range?
Public data shows a sale price range of $305k-$335k in August 2020. The increase to the current $390k assessment reflects broader market trends over the past five years. For precise figures, you can request the exact sold price history via email.

4. What does it mean that the living area is "around average"?
The living space (1,086 sqft) is very close to the average for similar homes on the street (~1,117 sqft). This indicates the home offers standard-sized rooms for the area, neither exceptionally spacious nor particularly compact.

5. Who might this property not suit?
Buyers seeking a modern, turn-key home with an open-concept layout or a brand-new build may find this 1955 one-storey too traditional or in need of further updates. It also may not suit those requiring extensive main-floor square footage, as the living area is modest. The value here is in its solid baseline and lot size, not in high-end finishes or expansive main-floor living.