Property Overview: 968 Warsaw Avenue
Key Characteristics & Appeal
This is a compact, well-situated one-storey home in Winnipeg's Rockwood neighbourhood, built in 1948. Its primary appeal lies in a combination of a generous, above-average lot size (over 4,100 sq ft) and a recently renovated basement, offering immediate livability and expansion potential. While the living area is modest at 768 sq ft, the property ranks highly for its lot size within its immediate street and wider area, suggesting valuable outdoor space or future development opportunity rare for the locale.
The home suits first-time buyers or downsizers seeking a lower-maintenance property with a solid foundation and updated elements, without the premium price of a fully modernized house. It also presents a practical option for investors or handy buyers who can leverage the large lot and good bones, viewing the smaller main footprint as a canvas for a future addition or suite. The consistent increase in assessed value over recent years indicates stable market recognition. Notably, the detached garage adds functional storage or workshop space, a valuable asset in an older neighbourhood.
Frequently Asked Questions
1. How does the lot size compare to typical properties in Winnipeg?
The 4,163 sq ft lot is in the top 29% for size across Winnipeg, which is a significant advantage for this property, especially given the smaller living area. It offers more private outdoor space than many city lots.
2. What does the "renovated basement" likely entail?
While specifics aren't listed, a renovated basement in a home of this era typically means it has been finished into a livable space, possibly with a recreation room, bedroom, or bathroom. It's important to verify the quality, permits, and moisture control of this renovation.
3. The living area is smaller than average. Is the house expandable?
The large lot is the key factor here. It provides the physical space for a potential main-floor addition or the development of a legal secondary suite (subject to zoning and city approvals), which could address the size and add value.
4. The home is 78 years old. What should I be mindful of?
While the basement is renovated, core systems like the roof, plumbing, electrical, and foundation should be carefully inspected. The age suggests potential for original materials needing updates, but also indicates solid construction character.
5. How does the assessed value relate to the likely selling price?
The assessed value ($33,200) is for municipal tax purposes and is typically much lower than market value. Recent sale prices of similar homes in the area and the home's condition will be the true determinants. The historical sold prices for this property show a pattern of appreciation.