Property Overview: 233 Douglas Avenue, Winnipeg
Key Characteristics & Appeal
This is a modest, century-old home (built 1920) on an unusually large lot in Winnipeg's River East neighborhood. Its defining characteristic is the significant imbalance between the size of the house and the land it sits on. The living space is 550 sqft, which ranks it below average on every level—street, neighborhood, and city-wide. Similarly, its assessed value is notably lower than surrounding properties.
The primary appeal lies in its land. At over 8,350 sqft, the lot size is well above average, ranking in the top 10% city-wide. This presents a clear value proposition: a very low entry price for a substantial piece of land in an established area. The home itself suits a minimalist lifestyle or could serve as a temporary foothold.
This property would best suit a specific type of buyer: an investor, builder, or hands-on homeowner with a long-term vision. It’s a potential redevelopment site, or a project for someone willing to live small while planning a major renovation or future build. It is less suited for those seeking move-in-ready space or comparing finished square footage to other homes in its price range.
Frequently Asked Questions
1. Why is the assessed value so much lower than the neighbors?
The assessed value reflects the current state and size of the improvement (the house). Given the home's very small size and age compared to others in the area, the valuation is primarily for the land, with minimal value assigned to the existing structure.
2. Is this a teardown property?
While the existing home is livable, its proportions and rankings strongly suggest it is valued as a land play. The numbers indicate that most of the property's worth is in the lot, making it a prime candidate for redevelopment or a significant rebuild in the future.
3. What are the main drawbacks?
The obvious drawback is the limited and aging living space. Buyers should budget for higher per-square-foot renovation costs due to the home's age and small scale, and recognize that the property's value won't appreciate like a typical home until significant investment or change occurs.
4. Who would this property NOT be a good fit for?
It is not ideal for families needing immediate space, buyers who dislike project homes, or those who prioritize neighborhood comparables in terms of finished square footage and modern amenities.
5. How reliable is the sold price data shown?
The site provides sold price ranges based on public data but notes it is not MLS-sourced. For fully verified, exact transaction figures, you must request a manual lookup from their team, as industry rules prevent displaying official MLS records here.