Property Overview
105 Avalon Road presents a distinct profile defined by its contrasts. Built in 1944, this 897 sqft home sits on a notably generous 11,613 sqft lot. Its appeal lies in this significant land-to-building ratio, offering a rare opportunity within Winnipeg. The home itself is modest in size and assessed value compared to its immediate street and neighborhood, but its lot size ranks in the top 4% citywide. This property would best suit a value-conscious buyer, such as a first-time homeowner or an investor, who sees potential in the land itself. It’s ideal for someone willing to live in a smaller, older home while enjoying ample outdoor space, or for a buyer with a long-term vision for renovation, expansion, or redevelopment.
Frequently Asked Questions
1. Why is the assessed value so much lower than recent sale prices?
Assessed values for municipal tax purposes often lag behind market sale prices and are calculated using different criteria. The sale history indicates strong market demand, which is not fully reflected in the current assessment.
2. What are the main considerations with a home built in 1944?
Prospective buyers should budget for potential updates to major systems like wiring, plumbing, and insulation. A thorough home inspection is essential to understand the condition of the original structure and any subsequent renovations.
3. How does the large lot size impact property costs?
While providing valuable space, a larger lot can mean higher municipal taxes compared to similar-sized homes on smaller lots. It may also entail more maintenance or landscaping effort and cost.
4. Is the smaller living area a significant drawback?
This depends on the buyer's needs. For a single person, couple, or small family, 897 sqft can be sufficient and efficient to maintain. The trade-off is the substantial outdoor space, which effectively expands your usable area.
5. What does the sale history suggest about the property's market trend?
The sold price increased from the $250k-$300k range in 2017 to $350k-$400k in 2022. This suggests the property has appreciated in value, likely driven by the desirable lot size and overall market conditions, highlighting its investment potential.