Property Overview
24 Barrington Avenue is a 816 sqft bungalow built in 1920, situated on a 3,645 sqft lot in Winnipeg's Norberry neighbourhood. With an assessed value of $228,000, it presents a notably affordable entry point into the city's housing market. The home's key metrics are consistently below the averages for its street, area, and the wider city, which shapes its unique profile.
Key Characteristics & Appeal
This home’s primary appeal lies in its affordability and potential. Its assessed value ranks in the top 10% most affordable on its street and in Norberry, offering a rare opportunity for budget-conscious buyers. The 1920 build date suggests classic character, but also indicates that updates may be needed. The lot size, while smaller than area averages, provides manageable outdoor space with less maintenance.
It would best suit first-time buyers, investors, or downsizers seeking a lower-cost foothold in a stable neighbourhood. Its value proposition is clear: accept a smaller, older home in exchange for a significantly lower financial barrier to entry and the chance to add value through renovations. A thoughtful perspective is that this property represents a "value play" in a market where similar-aged homes often command higher prices, potentially freeing up capital for customization.
Frequently Asked Questions
1. Why is the assessed value so much lower than area averages?
The assessed value reflects the home's smaller size (816 sqft), older age (1920), and smaller lot relative to neighbouring properties. This combination results in a valuation that is consistently below local benchmarks.
2. What should I consider about a home built in 1920?
While offering charm, a home of this age will likely require careful attention to foundational elements, wiring, plumbing, and insulation. A thorough inspection is essential to understand the condition and potential renovation costs.
3. Is the smaller lot size a disadvantage?
It depends on your lifestyle. The 3,645 sqft lot requires less maintenance than larger plots, which can be a benefit. However, it may limit expansion possibilities or extensive landscaping compared to other lots in the area.
4. How reliable are the sold price estimates shown?
The site notes that sold price data is from public sources, not the MLS, and is presented in ranges. For fully verified and exact historical sold prices, you must request a manual lookup via email from the service.
5. What does the "ranking" data actually tell me?
The rankings (e.g., Top 90%) show how this property compares to nearby "comparable homes." For example, ranking 122 out of 136 for living area means 121 nearby homes are larger. This quantifies how its features measure against the immediate competition.