Property Overview

This one-and-a-half storey home, built in 1922, presents a straightforward opportunity in Winnipeg's Burrows Central neighbourhood. Its key appeal lies in its essential affordability and the potential inherent in its unrenovated state. With 900 square feet of living space and a full, unfinished basement, the home sits on a 2,739 sqft lot. The property lacks a garage and has not seen recent updates, positioning it clearly as a value-priced entry point into the market.

The home suits practical buyers looking for a low-cost footprint. This includes first-time purchasers comfortable with a project, investors seeking a rental property with a minimal initial outlay, or those interested in the underlying land value. Its assessed value is significantly below the Winnipeg average, highlighting its accessibility. A thoughtful perspective is that while the living space is modest, the lot size is relatively generous for the immediate area, offering a balance of manageable upkeep with outdoor space. The home’s age and condition mean monthly costs may be lower than a larger, renovated property, freeing up budget for gradual improvements.

Frequently Asked Questions

What does "unrenovated basement" typically mean?
It generally indicates a basement in its original, unfinished state. Expect concrete floors, exposed foundation walls, and visible mechanical systems like the furnace. It’s a blank canvas for future development but requires inspection for moisture issues or necessary structural updates.

How should I interpret the comparative rankings for land area and value?
The rankings show the property is on a smaller-than-average lot for the street but is priced well below averages for both the neighbourhood and the city. This suggests you are paying primarily for the structure and location, with less premium attached to the land itself compared to other parts of Winnipeg.

Is the low assessed value a concern?
Not necessarily. It primarily reflects the home's unrenovated condition and market position for tax purposes. The recent sale price near the assessed value indicates the market agrees with this valuation. It results in lower property taxes, which is a benefit for the budget-conscious buyer.

What are the considerations with a home from 1922?
While the building age is average for the street, a home over 100 years old requires a diligent inspection. Key focuses should be the foundation, original plumbing and electrical systems, and the roof. Its longevity can speak to solid initial construction, but systems will likely need modernization.

Who might this property not suit?
It is not a match for buyers seeking a move-in-ready home without renovation work. It also may not suit those requiring ample indoor space, attached parking, or modern amenities immediately. The value here is in the opportunity, not in present-day finish or convenience.