Property Overview: 1086 Lorette Avenue, Winnipeg
Key Characteristics & Appeal
This 735 sqft bungalow on a standard 4,312 sqft lot in Rockwood is a quintessential post-war Winnipeg home, built in 1950. Its key characteristic is its statistical averageness within its immediate context. The assessed value (~$316k) and lot size are very much in line with neighborhood and street averages, presenting a stable, predictable investment without premium pricing. The living area is notably compact, ranking below average for the street, city, and neighborhood, which is the property's most defining trait.
The appeal lies in its affordability and positioning as a manageable entry point into the market. It suits first-time buyers or downsizers seeking a lower-maintenance footprint without a drastic compromise on lot size. A thoughtful perspective is that this home represents the "baseline" of its area—it’s not an outlier in price or size, which can mean less volatility and a clearer, simpler comparison for valuation. Its recent sale history shows steady appreciation, suggesting a reliable, if not explosive, growth trajectory. It’s a practical choice for a buyer who values neighborhood consistency over standout features.
Frequently Asked Questions
1. Is the living area too small?
At 735 sqft, the home is compact, ranking below the average for the street, Rockwood, and Winnipeg. It requires efficient use of space and would not comfortably suit a large or growing household without plans for expansion.
2. How does the assessed value compare?
The assessed value of approximately $316,000 is squarely around the average for Lorette Avenue and the broader Rockwood neighborhood, indicating it is priced consistently with its direct peers and is not an outlier.
3. What is the typical buyer for this home?
Given its size and price point, it is most suited to first-time homebuyers, singles, couples, or downsizers looking for a manageable, single-level home with a standard city lot in an established neighborhood.
4. Has the property value increased?
Based on available sold price ranges, the property appreciated from the $200k-$250k range in 2018 to the $300k-$350k range in 2023, indicating solid value growth over that five-year period.
5. How can I get the exact historical sale prices?
The site provides sold price ranges publicly. Due to industry rules, exact MLS sale figures are not displayed. You can request the exact transaction history via email from the site provider, who will manually look up and send the verified data.