Property Overview & Appeal
This one-storey home on a generous 4,635 sqft lot in Point Road presents a straightforward opportunity. Its key characteristic is the significant land size, which ranks well above average for both the street and the wider Winnipeg area. Built in 1917, the 948 sqft living space is complemented by a basement (not renovated) and a detached garage. The appeal lies in its potential; the lot offers room for expansion, gardening, or outdoor living, while the unrenovated condition allows a buyer to tailor the home to their own taste and budget. The assessed value is notably low compared to nearby properties, which may indicate an opportunity for value growth.
This property would suit a practical buyer looking for a solid foundation in a well-established neighbourhood. It's ideal for someone with renovation plans who values space over move-in-ready finishes, or an investor seeking a land-value play with a existing rental structure. A less obvious perspective is that its older vintage, while requiring updates, often comes with a level of craftsmanship and mature landscaping that newer builds lack.
Frequently Asked Questions
1. What does "not renovated" typically mean for the basement?
It usually indicates original or dated finishes, mechanical systems, and layout. Buyers should budget for potential updates to insulation, moisture management, and living space design.
2. Why is the assessed value so much lower than some nearby homes?
Municipal assessments for tax purposes often lag behind market values, especially for older homes that haven't been recently sold or significantly renovated. The lower assessment primarily reflects its unupdated condition rather than its potential market price.
3. What are the possibilities with such a large lot?
Beyond a spacious yard, the lot size could allow for future additions like an extension, a large workshop, or a dedicated garden space. It's always essential to check local zoning bylaws for permissible structures and setbacks.
4. Is the older age (1917) a major concern?
It brings both character and considerations. While the structure has proven its durability, a pre-purchase inspection is crucial to evaluate the foundation, wiring, plumbing, and roof. Heritage designation is unlikely but should be verified.
5. How does the living area compare to the neighbourhood?
At 948 sqft, it's comfortably above the neighbourhood average, offering more interior space than many similar vintage homes. This makes it a more functional blank canvas compared to smaller, truly "cottage-style" properties.