Property Overview & Key Characteristics
This one-storey home on Perth Avenue is a classic Winnipeg property built in 1917. Its primary appeal lies in its generous 2,376 sqft lot, which ranks in the top 3% for size within the established Seven Oaks neighbourhood. This presents a significant opportunity for gardening, expansion, or simply enjoying ample outdoor space—a rarity for older inner-city areas. The 720 sqft living area is compact and efficient, suggesting a home that is manageable to maintain and heat. While the basement exists, it is noted as unrenovated, and the property has no garage or pool.
This home would suit a first-time buyer, an investor, or a downsizer looking for an affordable entry into a mature neighbourhood with a large yard. Its low assessed value indicates a potentially lower tax burden, and the lot size offers future potential that may not be reflected in the current price. It’s a property for those who value land and location over a turn-key, modernized interior, appealing to practical buyers with a vision for gradual improvement or development.
Frequently Asked Questions
1. Why is the assessed value so much lower than the last sale price?
Assessed values in Manitoba are primarily for municipal tax purposes and are not intended to reflect current market value. They can be significantly lower, as seen here. The sale price from 2019 is a better, though dated, indicator of its market value at that time.
2. What does the lot size ranking actually mean?
The ranking indicates that this property’s lot is larger than 97% of other lots in the Seven Oaks neighbourhood. This is a standout feature, offering more private outdoor space and potential than most nearby homes.
3. Is the unrenovated basement a major concern?
It depends on your plans and budget. It means the basement is in original or utilitarian condition, likely lacking modern finishes. It should be inspected for moisture issues common in older Winnipeg homes, but it also represents a blank canvas for future development.
4. Who might this property not be suitable for?
It may not suit buyers seeking a move-in-ready home with modern amenities, those who require significant indoor living space, or anyone needing attached parking, as there is no garage.
5. How significant is the age of the home (built 1917)?
The age means character is likely present in the original build, but it also necessitates a thorough inspection. Key systems like wiring, plumbing, and the foundation will be older and should be evaluated carefully for necessary updates or repairs.