This one-storey home on a generous 3,561 sqft lot in William Whyte presents a distinct opportunity. Built in 1894, its key appeal lies in the combination of a renovated basement, a detached garage, and a lot size that ranks well above average for both the street and the wider city. With a modest 894 sqft of living space above grade, the property feels like a blank canvas—its value is anchored in the land and the potential of its below-grade space. The recent sale history shows significant appreciation, suggesting an area in transition.
It would suit a pragmatic buyer looking for a foothold in Winnipeg’s core, someone comfortable with a character home that prioritizes lot size and basement potential over square footage. It’s also a candidate for investors or renovators who see value in the substantial, renovated basement as a separate suite or income potential (subject to zoning verification).
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Given the age, what should I be most concerned about during an inspection?
While the basement is noted as renovated, the home's 1894 construction means a thorough inspection of the main floor structure, foundation, and original mechanical systems is essential. The renovation likely focused on the basement, so the condition of the original house remains a priority.
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How does the low assessed value compare to recent sale prices?
The assessed value is significantly lower than the 2024 sale price, which is common in rapidly changing areas. Rely on recent sale prices (like the April 2024 sale) for a current market value, not the assessment for taxation purposes.
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What does the "top 1%" ranking for year built on the street actually mean?
This indicates this home is among the very oldest on its street. This isn't inherently negative—it can mean classic character—but it underscores the importance of updated infrastructure and may differentiate it from neighbouring properties.
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Is the renovated basement a legal suite?
The listing states it's renovated but does not specify it as a legal, rentable suite. A buyer must verify with the city if it complies with zoning and licensing bylaws for a secondary suite, as this greatly impacts value and utility.
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The lot is large, but how is the neighbourhood?
The William Whyte neighbourhood is diverse and centrally located. The high ranking for lot size within Winnipeg suggests a scarcity of such large parcels in the core, offering future potential. However, as with any central neighbourhood, due diligence through personal visits at different times is recommended to gauge fit.