Property Overview: 1181 Lorette Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home on Lorette Avenue in Rockwood is a study in solid, established value. Built in 1951, its 981 sqft living space is typical for the immediate street and neighborhood, though slightly more compact than the Winnipeg average. The true standout features are its generous 4,948 sqft lot—significantly larger than most on the block—and its above-average assessed value of $387k for the area, suggesting a perception of quality or desirability that outpaces nearby peers.
The appeal lies in its position as a well-situated, grounded property in a mature neighborhood. It’s not the newest or largest home, but it holds its own with a premium lot size and a value that ranks highly on its street. This property would suit a pragmatic buyer—perhaps a first-time homeowner, downsizer, or investor—who values space outdoors over excessive square footage indoors and appreciates a home that already demonstrates strong value retention within its immediate community. It’s for someone who sees a stable foundation in a character neighborhood, not a blank canvas in a trendy area.
Section 2: Frequently Asked Questions
1. How does the home’s size compare to others?
At 981 sqft, the living area is very close to the average for both Lorette Avenue (1,040 sqft) and the wider Rockwood neighborhood (1,076 sqft). It is, however, notably smaller than the citywide average for comparable homes.
2. Why is the assessed value higher than the neighborhood average?
The assessed value of $387k ranks in the top 20% for both the street and Rockwood. This suggests that assessors have attributed a higher value to this specific property, which could be due to factors like its larger lot, condition, improvements, or its specific location on the street.
3. What is the significance of the lot size?
The lot of 4,948 sqft is a key asset, ranking in the top 20% locally. It offers more outdoor space than most comparable properties in the area, which is a fixed feature that adds long-term utility and value.
4. What can the last sold price tell me?
Public records indicate it last sold between $300k-$350k in mid-2020. This provides a historical benchmark, but for exact figures and a full transaction history, a manual lookup through the site is required, as MLS data is not displayed.
5. How does the age of the home factor in?
Built in 1951, it is of a very typical vintage for Rockwood. Buyers should anticipate the maintenance and update needs common to homes from this era, while also appreciating the established neighborhood feel that comes with it.