494 Pritchard Avenue

Property Overview

This two-storey home on Pritchard Avenue, built in 1912, presents a classic Winnipeg character property with significant space. Its primary appeal lies in its generous proportions, offering over 2,000 sqft of living area, which ranks it exceptionally high (top 1%) for size on its street. The lot is also notably spacious. While the basement is unrenovated and there is no garage, the home’s assessed value has shown steady, modest increases over recent years. It sits in the William Whyte neighbourhood, a historic area where property values and conditions can vary significantly from one block to the next.

This property would suit a value-conscious buyer looking for ample interior space in a character home, who is prepared for projects. It’s a practical option for a large family, a multi-generational household, or an investor seeking a substantial rental property. The unrenovated basement represents both a cost consideration and a blank canvas for future finishing. Buyers should be comfortable in an evolving neighbourhood and see the potential in a solid, century-old structure rather than a move-in-ready modern home.

Frequently Asked Questions

1. What is the true condition of the property?
The listing notes the basement is "not renovated," which typically indicates it is in original or utilitarian condition. Prospective buyers should budget for inspections to assess the foundation, plumbing, and electrical systems common to homes of this era.

2. How does the assessed value compare to the likely selling price?
The assessed value is $18,400, but recent sales of comparable homes on the same street have ranged from approximately $180,000 to under $20,000. This wide disparity is characteristic of the area and underscores the importance of a physical viewing and understanding the specific condition and features of each property.

3. Is the large living area a sign of a well-maintained home?
Not necessarily. While the square footage is a major asset, a home of this size and age can have proportionally higher costs for updates, heating, and repairs. The space is a key selling point, but its condition is the critical factor.

4. What are the implications of not having a garage?
The lack of a garage means on-street parking and exposure to Winnipeg’s winter elements. For some buyers, this is a minor trade-off for the property’s other features; for others, it may be a significant inconvenience or a future project to consider.

5. The home is over 110 years old. What should I be most concerned about?
Key concerns for a 1912 build include the state of the original wiring and plumbing, foundation integrity, insulation, and window efficiency. The unrenovated basement offers a clear look at foundational and structural elements, which is an advantage during an inspection.