Property Overview

This 1.5-storey home on a large 6,045 sqft lot presents a specific and compelling opportunity. Built in 1951, its primary appeal lies in its generous land size, which ranks within the top 3% for both the street and the broader Burrows Central neighbourhood. The living space, at 1,462 sqft, is also notably larger than most comparable homes in the immediate area. The property features a detached garage and a full, unrenovated basement.

Its appeal is rooted in value and potential. The sale price and assessed value are significantly below the Winnipeg city average, offering an accessible entry point. This suits buyers looking for a land-rich property where the value is held more in the lot than in the current structure. It’s ideal for an investor, a hands-on buyer planning a gradual renovation, or someone seeking a spacious yard in a mature neighbourhood without a premium price tag. A less obvious perspective is that its above-average size for the area, combined with the low price, could provide a cushion against market fluctuations that more expensive, maximized properties might experience.

Frequently Asked Questions

1. What does "Elite — Top 3%" ranking for the land area actually mean?
It means the lot size is larger than 97% of comparable properties on Pritchard Avenue and in the Burrows Central neighbourhood. This is the home's most standout feature, indicating a very spacious yard relative to its surroundings.

2. The assessed value seems very low. Is this a concern?
The assessed value is for municipal tax purposes and is not a market valuation. Its low value relative to the city average contributes to lower property taxes, which is a financial positive for an owner. The recent sale price is closely aligned with this assessed value.

3. Who would this property not be suitable for?
It would not suit buyers seeking a move-in-ready home without any projects, as the basement is noted as unrenovated. It may also not fit someone whose priority is a modern home in a newer suburb, as the value here is in the land and the existing structure's potential.

4. The home is older. Are there any advantages to that?
Yes. The 1951 build date is actually newer than the average home on its street and in Burrows Central. Older homes in established neighbourhoods often come with mature trees, larger lot sizes, and character that can be harder to find in newer developments.

5. How should I interpret the "below average citywide" rankings?
This is expected for a modestly priced home in a core neighbourhood. When compared to all Winnipeg properties, including new suburban builds and high-end areas, metrics like sale price will rank lower. The key takeaway is that within its own local market, the property holds strong advantages in lot and living space size.