Property Overview: 1041 Burrows Avenue

Key Characteristics & Buyer Appeal

This is a modest, century-old one-storey home on a standard city lot in Winnipeg's Burrows Central neighbourhood. Its key characteristic is its affordability and simplicity. The 852 sqft house sits on a 2,288 sqft lot and features an unrenovated basement and no garage. The home last sold in April 2022 for $9,800, with a current assessed value of $12,800, placing it well below average for the city.

The primary appeal lies in its position as an entry-point property. It suits a very specific buyer: someone seeking the lowest possible price point to enter the market, an investor looking for a bare-bones rental property, or a buyer with land-value vision who sees the structure itself as having minimal value. Its older age and smaller size mean lower property taxes, which is a practical, less obvious advantage. It would not suit anyone needing move-in-ready condition, significant space, or modern amenities.

Frequently Asked Questions

1. What does "unrenovated basement" typically mean?
It generally indicates a basement in original or rough condition, likely lacking finished walls or ceilings, and may have moisture or foundation issues common in homes of this age. It should be inspected thoroughly.

2. Why is the assessed value so much lower than the city average?
The assessed value reflects the property's age, small living area, lack of updates, and the overall lower market values in its immediate area compared to the wider Winnipeg market.

3. Is this a good candidate for a "teardown" or redevelopment?
The lot size is relatively small compared to newer suburban lots, which may limit extensive redevelopment options under current zoning. However, the low value of the existing structure makes the land value a significant portion of the total price.

4. How does the recent sale price affect future value?
The 2022 sale at $9,800 sets a very recent benchmark, suggesting the market for such properties is highly niche. Future value will depend more on land value trends in the area than on appreciation of the house itself.

5. What should I consider regarding utilities and maintenance?
A home built in 1909 likely has older plumbing, electrical, and heating systems. Budgeting for higher maintenance costs, potential system upgrades, and efficiency improvements is essential.