Property Overview & Key Characteristics
This 1927 one-storey home on Walker Avenue presents a classic, no-frills opportunity in Winnipeg's Lord Roberts neighbourhood. Its primary appeal lies in its solid location and the potential it offers. The lot is a generous 2,207 sqft, placing it in the top tier for size on its street, which is a significant asset in an established area. While the 660 sqft living area is compact, it ranks highly compared to many Winnipeg homes, suggesting an efficient use of space. A key point is the home's assessed value, which is notably low for the area, often indicating a property ripe for modernization or a solid entry point into the market.
The home would suit a practical, value-oriented buyer. This could be a first-time purchaser or an investor looking for a "blank canvas" property with a good land-to-building ratio. It's for someone who sees the appeal in a central location and is prepared to handle a home with an unrenovated basement and likely needs updates throughout. The very low taxes associated with the assessment can be a major draw, offering immediate cash flow relief that can be redirected into renovations.
Frequently Asked Questions
1. What does "unrenovated basement" typically imply?
It usually means the basement is in original or functional condition, with concrete walls and floors, and is suited for laundry and storage. It may not be finished as a living space and could have older mechanical systems.
2. Why is the assessed value so much lower than nearby homes?
The assessed value is primarily based on the property's current state, size, and recent sales of similar homes. This significant gap often reflects that the home has not been updated to modern standards, which is a key factor for buyers weighing renovation costs against purchase price.
3. Who is responsible for maintaining the detached garage?
The homeowner is fully responsible for the detached garage, including any repairs, maintenance, and ensuring it meets local bylaws. This offers flexibility but also adds to the list of potential upkeep items.
4. What are the advantages of a larger lot in this neighbourhood?
A larger lot in a mature neighbourhood like Lord Roberts offers more outdoor space, better potential for landscaping or gardening, and increased future flexibility. It can also contribute to a greater sense of privacy and is often a driver of long-term property value.
5. Is the living space too small for a small family?
While compact at 660 sqft, the layout will determine its functionality. Many homes of this era make efficient use of space. For a small family, it would likely feel cozy and would benefit from creative storage solutions. The unrenovated basement also presents future potential to add functional living or storage space.