Property Summary: 325 Harvard Avenue W, Victoria West, Winnipeg
Key Characteristics & Appeal
This 746 sqft home, built in 1954 on a 4,950 sqft lot, presents a compelling opportunity in the sought-after Victoria West neighborhood. Its primary appeal lies in its value proposition within a desirable area. While the living space is notably compact compared to most homes on its street and in the wider city, this is balanced by an assessed value ($329k) that ranks significantly above the neighborhood average. This suggests you are paying for location and land here, rather than square footage.
The property would suit first-time buyers or downsizers seeking an entry point into a prime neighborhood without the premium typically attached to larger homes. It’s also a potential candidate for those with a vision to renovate or expand, given the lot size is generous for the area. A less obvious perspective is its appeal to efficiency-minded owners; the smaller footprint means lower utility costs and less maintenance, allowing for a lifestyle focused more on enjoying the community than managing a large house.
Frequently Asked Questions
1. Is the house too small?
At 746 sqft, it is significantly smaller than the average home on Harvard Avenue W. It requires efficient use of space and suits a simpler lifestyle. However, its size is more aligned with the neighborhood average, and the lot offers potential for future expansion.
2. Why is the assessed value high for a smaller home?
The value is driven strongly by its location in Victoria West. The assessment ranks in the top 11% for the neighborhood, indicating that property values here are buoyant. You are largely investing in the land and the community.
3. What does the year built (1954) mean for maintenance?
Built later than many homes on its street, it may have newer systems than some neighbors. However, as a mid-century home, a thorough inspection is key to understand the condition of the roof, wiring, plumbing, and insulation.
4. How does the lot size compare?
The lot is a key asset. At 4,950 sqft, it is above average for Victoria West, offering valuable outdoor space, privacy, and potential for additions or landscaping that smaller lots in the area cannot accommodate.
5. Is this a good investment for the area?
The metrics suggest a solid footing. It holds a strong assessed value within the neighborhood itself, which is often a more relevant marker than city-wide comparisons. Its above-average lot size and younger age for the street are additional positives for long-term value in this location.