Property Summary: 1124 College Avenue, Winnipeg

Key Characteristics & Appeal

This one-and-a-half storey home, built in 1948, presents a practical opportunity in the Burrows Central neighbourhood. Its key features include a renovated basement and a detached garage. The appeal lies in its solid fundamentals and relative value. With a land area of 3,873 sqft, the lot is notably spacious for the immediate area and above average for the broader neighbourhood, offering good outdoor potential. While the living space is modest at 1,032 sqft, it is consistent with area norms. The home’s assessed value is well above average for both its street and neighbourhood, suggesting it is viewed as a higher-value property within this specific market context. This property would suit a value-conscious buyer, such as a first-time homeowner or an investor, looking for a home with a generous lot in a mature community. It’s a house where the land itself is a significant asset, and the renovated basement adds immediate, functional living space without the need for a major project.

Frequently Asked Questions

1. What does the above-average assessed value indicate?
It typically reflects the municipality’s valuation for tax purposes. In this case, it being above most neighbours suggests the property, or its recent improvements like the basement renovation, is considered to have a higher taxable value than surrounding homes.

2. Is the lot size a major advantage?
Yes, especially in this context. The lot is larger than many in Burrows Central, which could allow for more privacy, gardening space, or future expansion like a shed or deck, compared to tighter lots nearby.

3. What does “one-and-a-half storey” typically mean for a 1948 home?
This style often features a main floor with principal rooms and a second floor under sloped ceilings, which may have cozier bedrooms or converted attic space. It’s characteristic of the era and can offer efficient, compact living.

4. How does the sale history inform the current price?
The property sold for $25,200 in August 2021. Understanding why it is back on the market so soon, and how the current asking price compares to that recent sale, is a crucial starting point for any offer.

5. What should I investigate about the renovated basement?
It’s important to verify the quality, permits, and finish of the renovation. Check for moisture issues common in older basements and understand how the space is currently used—whether as a legal suite, a recreational room, or additional bedrooms.