Property Overview: 842 College Avenue, Winnipeg

Key Characteristics & Appeal

This is a compact, century-old home (built 1918) on a modest lot in the Burrows Central neighborhood. The one-and-three-quarter storey house offers 992 square feet of living space and includes a basement that is present but not renovated. There is no garage or pool. The home’s most defining characteristic is its land size: at 2,277 sqft, the lot is notably smaller than most in the city, ranking in the bottom 15% citywide. This translates to very low property taxes, as reflected in its assessed value of $14,400, which is significantly below Winnipeg averages.

Its appeal lies in its absolute affordability and straightforward potential. The recent sale price of $14,600 indicates a true entry-level point into homeownership. It suits a specific buyer: someone seeking the lowest possible purchase price and carrying costs, who is comfortable with a smaller, older home that likely requires updates. It could be a practical first home, a minimal-commitment investment property, or a project for a hands-on buyer. A less obvious perspective is that the small lot, while limiting outdoor space, also means minimal yard maintenance—a potential benefit for those seeking a low-maintenance lifestyle. Its "around average" rankings for living area and year built within its immediate area suggest it is a typical home for this specific, established street.

Frequently Asked Questions

1. What does "one & 3/4 storey" mean?
This is a common architectural style for homes of this era. It typically means the second floor has full-height ceilings only in the center of the house, with sloping eaves creating smaller, cozier rooms around the perimeter.

2. Why is the assessed value so much lower than the city average?
The assessed value is based heavily on the property's characteristics, especially land size and the home's age/condition. This home's very small lot and older, unrenovated state place its value far below the average Winnipeg home, which often sits on a larger lot.

3. What does "basement, not renovated" imply?
It confirms the house has a basement, but it is in original or utility condition. Buyers should expect a concrete space suitable for storage and housing mechanical systems (like the furnace), not a finished living area.

4. Is the small lot a major drawback?
It depends on your needs. It limits expansive gardening, play space, or additions. However, it also means less yard work and lower property taxes. The home's placement and how the outdoor space is configured will be key.

5. How does this price compare to nearby homes?
The recent sale price is consistent with similar, small older homes in Burrows Central. The provided comparisons (e.g., 861 Redwood Ave at $13,400 assessed) show it is priced within the expected range for this specific market segment of very affordable, compact properties.