Property Overview: 128 Collegiate Street, Bruce Park, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-a-half storey home, built in 1914, is a classic character property on a standard city lot. Its key features include a detached garage and an unrenovated basement. The appeal lies in its straightforward, no-frills nature and its position within a mature neighbourhood. With 1,040 sqft of living space, it offers compact, efficient living.

The home’s standout characteristic is its context. While the house itself is modest, its lot size is notably larger than many in the immediate Bruce Park area, offering more outdoor space than most nearby properties. This presents a subtle opportunity: the value here is anchored more in the land and location than in the current structure. It last sold in 2016 for $21,600, with a current assessed value slightly higher at $22,900, suggesting a stable, entry-level point in the market.

This property would suit a pragmatic first-time buyer, an investor looking for a land-hold or rental opportunity, or a hands-on individual with renovation plans. It’s not for someone seeking modern finishes or turn-key convenience, but rather for those who see potential in a well-located, honest home that doesn’t command a premium for upgrades that may not align with a new owner’s vision.

Section 2: Frequently Asked Questions

1. What does "one-and-a-half storey" mean for this home?
Typically, this style features a main floor with principal rooms and a second floor under sloped roofs, creating cozy bedrooms with potentially lower ceilings. It’s a classic Winnipeg design, often efficient to heat but may have a unique layout.

2. The assessed value seems low. What does this indicate?
The assessed value is for taxation purposes and reflects the municipality’s valuation of the property based on its condition, features, and market area. A value significantly below city-wide averages indicates a modest home in its current state, not necessarily its full market sale price.

3. How significant is the lot size being larger than the neighbourhood average?
In an established area like Bruce Park where lots are often subdivided, having a lot above average for the neighbourhood is a relative advantage. It provides more private outdoor space and could offer more flexibility for future landscaping, gardening, or expansion, subject to zoning.

4. What should I consider about an "unrenovated" basement?
This means the basement is in original or functional condition, lacking modern finishes. It requires a careful inspection for foundational integrity, moisture control, and mechanical systems (like the furnace and wiring). It represents both a potential project and a blank slate.

5. The home is older than most on the street. Is that a concern?
An older build date (1914) means charming character but also necessitates a thorough inspection of core systems like plumbing, electrical, and the roof. It ranks "below average" for year built on its street, so many neighbouring homes have been replaced or extensively updated over time, which is useful context when evaluating the streetscape and potential future changes.