Property Overview

This one-and-a-half storey home, built in 1926, presents a straightforward opportunity in Winnipeg's Burrows Central neighbourhood. Its key appeal lies in its position as an affordable entry point into the market, particularly suited for those with a vision for gradual improvement or who prioritize land value over immediate move-in condition. The home sits on a 2,277 sqft lot, which is modest for the area but still offers outdoor space. With 730 sqft of living space and an unrenovated basement, it is a compact property. The most recent sale was in 2019 for $140,000, and it holds a current assessed value of $15,300.

Key Characteristics & Suitability

The primary characteristic of this property is its role as a value-conscious foundation. Its appeal is not in its current finishes or size—which are below area averages—but in its potential and affordability. It suits first-time buyers or investors comfortable with a home that requires work, as the basement is noted as unrenovated. A thoughtful perspective is that its older age (1926) is actually around average for its specific street and neighbourhood, suggesting it fits the established character of the area rather than being an outlier. The lot, while not large, is a tangible asset in a city where land is a key driver of long-term value. This isn't a turn-key home; it's a project for a buyer who sees the underlying value and is prepared to build equity through updates over time.

Frequently Asked Questions

1. What does "unrenovated basement" typically imply?
It generally means the basement is in its original or rough state, likely lacking modern finishes, and may have older mechanical systems. It should be inspected for moisture issues, insulation, and foundation integrity.

2. How significant is the living area being below average?
At 730 sqft, the home is compact. This emphasizes efficient use of space and suggests it is best for individuals, couples, or small families. The unrenovated basement could potentially add functional space in the future.

3. Why is the assessed value so much lower than the last sale price?
Municipal assessed value for taxation purposes often lags behind market sale prices and is calculated using a specific formula. The 2019 sale price of $140,000 is a more current indicator of its market value.

4. What are the implications of the "one-and-a-half storey" design?
This style often features a main floor with principal rooms and a second floor under sloped roofs, which can create cozy but sometimes limited headroom in upper rooms. It's a classic Winnipeg design.

5. The lot is smaller than area averages. Is this a major drawback?
While smaller, the 2,277 sqft lot still allows for a yard. In mature neighbourhoods, smaller lots can mean less maintenance and a proportionally lower property tax assessment, which some buyers may prefer.