Property Overview
1039 Lorette Avenue is a compact, post-war home in Winnipeg's Rockwood neighborhood. Its primary appeal lies in being an accessible entry point into the market, offering a balance of a manageable size and a lot that is typical for the immediate area. The data suggests it is a value-conscious option in a neighborhood of generally higher-valued homes.
Key Characteristics & Ideal Buyer
This 882 sqft bungalow, built in 1947, sits on a roughly 4,300 sqft lot. Its most defining characteristic is its assessed value of $158k, which is significantly below the averages for Lorette Avenue ($321.8k), Rockwood ($340.6k), and Winnipeg overall ($390.1k). This positions the property as one of the most affordable homes in its vicinity.
The appeal is straightforward: lower property taxes and a lower barrier to entry compared to neighboring houses. It suits first-time buyers or investors seeking a foothold in a mature neighborhood without a premium price tag. The living space is modest but on par with many nearby homes, making it a practical, no-frills option. A thoughtful perspective is that this price point in this location could allow a buyer financial flexibility for updates or to simply enjoy lower ongoing housing costs. However, the below-average valuation warrants a closer look to understand the full condition and factors at play.
Frequently Asked Questions
1. Why is the assessed value so much lower than the neighbors?
The assessed value is notably below area averages. This typically reflects the property's specific characteristics, such as its smaller size, condition, features, or any non-standard factors. It's a key point for due diligence to understand what is driving this valuation.
2. How does the living space compare to nearby homes?
At 882 sqft, the living area is slightly below the street average (~1,040 sqft) but is very close to the neighborhood average. It is a compact home, similar in scale to many other properties in central Rockwood.
3. What is the history of sold prices for this home?
Public records indicate it last sold between 2017-2022 for an estimated $100k-$150k. For fully verified and exact sale history, you must request a manual lookup from the site, as MLS data is not displayed.
4. Is the lot size a pro or a con?
The lot is just over 4,300 sqft, which is actually slightly larger than the average lot on Lorette Avenue. It provides a decent outdoor space relative to the home's footprint and is consistent with the area's typical parcel size.
5. What are similar nearby homes like?
The listed comparable properties on streets like Dudley and Scotland Avenue are generally of a similar vintage (1940s-50s) but often have larger living areas and, consequently, higher assessed values, ranging from $208k to $298k. This highlights the value positioning of 1039 Lorette.