Property Overview

This 1912 one-and-a-half storey home on William Avenue West in Brooklands presents a straightforward opportunity centered on its land and value. With 887 square feet of living space, an unrenovated basement, and no garage, the house itself is modest and requires modernization. Its key characteristic is the 3,129 sqft lot, which is notably larger than many city lots and about average for the immediate area. The home last sold for $150,000 in May 2024, a price point significantly below the Winnipeg average, underscored by its very low municipal assessed value.

The appeal lies in its potential as a land-value play or a manageable renovation project. It suits a practical, value-conscious buyer—perhaps a first-time investor looking for a hold property, a hands-on individual seeking an affordable entry into the market with room to expand, or someone prioritizing lot size over a move-in-ready condition. A less obvious perspective is that its older vintage (1912) and classic style might hold specific charm for a buyer interested in the area's history, willing to restore character over time. It’s not for those seeking immediate comfort or modern amenities, but rather for those who see foundation and possibility.

Frequently Asked Questions

1. What does "unrenovated basement" typically imply?
It generally means the basement is in its original or rough state, likely with concrete floors, basic walls, and older mechanical systems. It presents both a blank canvas and a likely source for future upgrades like insulation, moisture control, or layout changes.

2. The assessed value is very low compared to the sale price. Why?
Municipal assessments for tax purposes often lag behind market values, especially in active markets or for properties with unique characteristics. The sale price reflects what a buyer recently agreed to pay, while the assessment is an administrative valuation formula that may not capture all current market factors.

3. What are the advantages of a larger lot in this neighborhood?
A larger lot (over 3,000 sqft) in a mature neighborhood like Brooklands offers more outdoor space, potential for gardening, adding a garage or shed, and future expansion possibilities that are not available on standard, smaller lots. It provides a sense of space that is uncommon in newer subdivisions.

4. Who is the typical buyer for a home like this?
This property typically attracts first-time homebuyers or investors comfortable with a project. It's suitable for someone with renovation skills or a budget for gradual updates, or an investor seeking a property with a stable land value and rental potential after some improvements.

5. How does the age of the home (1912) affect ownership?
While offering character, a home of this age requires careful attention to its aging components. Buyers should budget for and inspect major systems like wiring, plumbing, and the foundation. The upside is often solid construction materials and architectural details not found in newer builds, but with the responsibility for their maintenance.