Property Overview: 827 College Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-a-half storey home, built in 1927, sits on a notably large lot in the Burrows Central neighbourhood. Its primary appeal lies in the generous 5,467 sqft land parcel, which ranks in the top 10% for size on its street and the top 6% within the neighbourhood. This offers significant potential for expansion, gardening, or outdoor space—a rarity in the city core. The living area (1,272 sqft) is comfortably above average for the immediate area, providing good interior space.

The home presents as a solid value-oriented project. It features a detached garage and a basement that is present but not renovated, indicating an opportunity for customization. The assessed value is significantly below the citywide average, suggesting a lower property tax burden and a potential entry point into the market.

This property would best suit a practical buyer looking for a long-term foundation—perhaps a first-time homeowner willing to make gradual improvements, an investor interested in the value of the land, or someone who prioritizes substantial outdoor space over a turn-key interior. Its strong neighbourhood rankings for lot size and living space, contrasted with its below-average citywide assessed value, highlight a specific kind of opportunity: more room for your investment compared to many city properties, with the understanding that it requires your vision and effort.

Section 2: Frequently Asked Questions

1. What does "above average" for the lot size actually mean?
The data shows the lot is 5,467 sqft, which is larger than approximately 90% of comparable lots on College Avenue and 94% of those in the Burrows Central area. This is the property's most standout feature.

2. Why is the citywide assessed value so much lower than the average?
The assessed value of $19,700 is for the property itself and is distinct from potential market sale prices. This low assessment primarily reflects the home's age and condition relative to the broader Winnipeg market, not the land value. It typically results in lower annual property taxes.

3. Is the basement finished or usable for living space?
The listing specifies the basement exists but is "not renovated." It should be considered unfinished raw space, requiring significant work to be used as living quarters.

4. How does the recent sale price compare to the assessment?
The home sold for $22,500 in November 2021. This sale price was above the assessed value at that time, which is common, as market price and assessed value for taxation purposes are calculated differently.

5. What is the realistic scope for this property?
Given the large lot, unrenovated basement, and the home's age, buyers should budget for both expected maintenance and potential renovation costs. The appeal is in the land and the structural footprint, making it ideal for those planning to incrementally upgrade a property over time.