Property Overview: 1073 Manitoba Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This is a classic one-and-a-half storey home in the Burrows Central neighbourhood, built in 1913. Its key appeal lies in its position as a modest, entry-level property with a clear value proposition centred on land and location rather than a modernized living space.

The home itself is compact at 1,011 sqft of living area and features an unrenovated basement and a detached garage. Its most significant characteristic is the land: the lot is approximately 3,000 sqft, which is a useable size for the area and represents the core asset. The data shows the home’s assessed value is above average for Burrows Central, suggesting the property is viewed favorably within its immediate market context despite its age.

This property would best suit a specific type of buyer: a pragmatic first-time homebuyer or an investor looking for a foothold in the market with lower upfront capital. It’s for someone comfortable with a home that requires updates, who values the potential of the lot over a turn-key interior, and who is strategically focused on the long-term equity of land ownership in a central Winnipeg neighbourhood. The recent sale history indicates active interest and a rising value trend, pointing to a property seen as a solid foundation rather than a finished product.

Section 2: Frequently Asked Questions

1. What does "above average assessed value for the neighbourhood" really mean?
It means that, according to the latest municipal assessment, this property holds more value relative to other homes in Burrows Central. This can be influenced by its lot size, location on the street, or recent area sales, and often indicates a stronger baseline for property taxes and resale.

2. Is the unrenovated basement a major concern?
It represents both a drawback and potential. While it will not provide finished living space, it also means there are no hidden costs or poor quality from a prior DIY renovation. A buyer can plan and budget for its development correctly from the start.

3. The home is over 110 years old. What should I be most aware of?
Focus on the fundamental systems: the roof, foundation, plumbing, and electrical. Their condition and any updates are more critical than the home’s cosmetic age. An inspection is essential to understand the true condition behind the vintage.

4. How does the lot size compare practically?
At just under 3,000 sqft, the lot is smaller than the Winnipeg average but is a typical, functional size for the central core. It provides adequate outdoor space for gardening, entertaining, or adding a shed without the high maintenance of a much larger yard.

5. The sale price jumped significantly between 2021 and 2023. Why?
This sharp increase likely reflects the broader market surge during that period, where entry-level properties saw substantial demand. It underscores the property’s role as an affordable asset in a rising market, but buyers should ensure current pricing aligns with today’s conditions.