Property Overview: 852 Manitoba Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-a-half storey home on a standard city lot presents a straightforward opportunity in Winnipeg's Burrows Central neighbourhood. Its key characteristics are defined by its historical roots and its position as a relative value within its immediate area. Built in 1909, the home offers 979 sqft of living space and features a detached garage and a full, unrenovated basement.

The primary appeal lies in its land value and its context within the local market. While the home itself is older and modest in size compared to the citywide average, its lot size and assessed value are very much in line with—or even slightly above—the norms for its street and neighbourhood. This suggests you are purchasing a competitively-priced property in a community of similar homes, not paying a premium for the structure itself. The sale history indicates it has been a stable, affordable entry point into the market.

This property would best suit a pragmatic buyer looking for a starter home or a long-term investment with a focus on land value. It’s ideal for someone comfortable with a home that requires updates over time, or an investor seeking a rental property in a neighbourhood of comparable, affordable housing. It is less suited for those seeking a modern, move-in-ready home or a property with above-average square footage.

Section 2: Frequently Asked Questions

1. What does the "unrenovated basement" typically mean for a home of this age?
In a 1909 home, this usually indicates a traditional concrete or stone foundation basement with low ceilings, basic finishes, and likely housing the original mechanical systems (like the furnace and plumbing). It offers significant storage and future potential but will require inspection and likely investment to modernize.

2. The assessed value seems very low compared to the last sale price. Why is that?
Municipal assessed value for tax purposes is not a direct indicator of market value. It is often based on mass appraisal techniques and can lag behind current market conditions. The 2017 sale price of $170k is a much more relevant gauge of its market value, though a current appraisal would be necessary.

3. How significant is the age of the home (1909)?
It signifies character and solid construction but comes with expectations. You should budget for and prioritize inspections of major aging components: the roof, foundation, wiring, and plumbing. Historical charm is present, but so is the potential for outdated materials and systems.

4. The lot is described as "around average" for the area. Is that an advantage?
In this context, yes. It means the property is typical for Burrows Central, ensuring it fits the neighbourhood fabric and isn't over- or under-developed relative to its peers. For a value-focused buyer, a standard lot in a neighbourhood of standard lots is a stable, predictable asset.

5. Who might be interested in the comparable properties listed, like those on Grant Avenue with the same assessed value?
Those are almost exclusively condominium units, while 852 Manitoba Ave is a single-family house with its own land. This comparison highlights a key trade-off: for the same tax assessment, you can own a land-based property requiring more upkeep or a condo with less responsibility but monthly fees. It underscores the different value propositions within the same price segment.