Property Overview: 1005 Royse Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home on Royse Avenue in Maybank presents a distinct profile centered on its generous lot. The 688 sqft house, built in 1926, is notably compact and older than most in the immediate area and city. Its assessed value is modest, sitting below average for the street but closer to the norm for the wider Maybank neighbourhood.
The primary appeal lies in the land itself—a 5,051 sqft lot that is significantly larger than most on Royse Avenue. This creates a substantial outdoor space relative to the home's footprint, a rare find in the area. The property suits a specific buyer: someone seeking an affordable entry into homeownership with a vision for expansion or renovation, or a buyer who prioritizes private outdoor space over interior square footage. It’s a property where the value is more in its potential and land than in its current structure, appealing to DIY enthusiasts, long-term planners, or those looking to add value through strategic updates.
Section 2: Frequently Asked Questions
1. Is this a "tear-down" property?
Not necessarily. While the home is smaller and older than area averages, its condition ultimately determines this. The generous lot size does make it a candidate for a significant expansion or eventual rebuild, but the existing structure may be perfectly livable for the right buyer.
2. Why is the assessed value relatively low?
The assessed value reflects the home's age, smaller living area, and likely its current condition and features compared to others. It’s important to note that assessed value for tax purposes doesn't always equal market value, but it indicates this is not a highly renovated or expanded home.
3. What are the real costs beyond the purchase price?
As a century-old home, prospective buyers should budget for potential updates to major systems (like plumbing, electrical, or insulation) and anticipate higher maintenance costs than a newer build. The lower assessed value may also mean lower property taxes, a factor to consider.
4. How does the lot size compare practically?
At over 5,000 sqft, the lot is a standout feature. This is not just a backyard; it's a canvas for gardens, play space, adding a garage, or future home additions. It offers a level of privacy and flexibility uncommon for homes in this price range.
5. Where can I find the exact historical sale price?
The listing service provides sold price ranges based on public data. To obtain the precise sale price from its last transaction in 2020, you must request it directly via the email link provided on the detail page. They provide this information manually and promise a reply by the end of the same business day.