Property Overview: 861 Selkirk Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This two-storey home, built in 2012, stands out for its modern age in a neighbourhood of predominantly older homes. Its key appeal lies in this relative newness, offering a move-in-ready structure likely requiring less immediate maintenance than century-old counterparts. With 1,220 sqft of living space, it provides above-average roominess for both its immediate street and the broader Burrows Central area.

The property’s value proposition is nuanced. Its assessed value is notably above average for the local area, reflecting its modern build and larger footprint. However, this translates to a price point that is below the Winnipeg city-wide average, positioning it as a potentially accessible entry into a newer home. The lot size is standard for the neighbourhood but smaller than typical city lots, suggesting a lower-maintenance yard. The home has an unrenovated basement and no garage.

This property would best suit a practical buyer looking for a modern, structurally sound home in a central Winnipeg neighbourhood without a premium city-wide price tag. It’s ideal for someone who prioritizes the condition and age of the building over a large lot or extra amenities like a garage. It may also appeal to an investor seeking a newer rental property with potentially lower upkeep costs.

Section 2: Frequently Asked Questions

1. What does the "above average" assessed value locally really mean?
It means that, compared to most homes on Selkirk Avenue and in Burrows Central, this property is valued higher by the assessor, likely due to its 2012 construction date and larger living area. While it costs more than many neighbouring houses, it remains priced well below the average Winnipeg home.

2. Are there any obvious drawbacks to such a new house in an older area?
The modern construction is a significant advantage. A less obvious consideration is that the architectural style and materials may differ from the neighbourhood's traditional character. Additionally, the lot size is modest, which is typical for the area but smaller than what you might find with a newer home in suburban developments.

3. The home sold in July 2022. What can that sale price tell me?
The prior sale price of $29,500 provides a recent market benchmark. Comparing it to the current assessed value of $28,400 can offer insight into market trends and the municipality's valuation, but it is not a direct indicator of the current listing or market price.

4. What is the potential of the unrenovated basement?
The existing basement presents a clear opportunity for future expansion or customization to add living space, storage, or utilities. However, any renovation would be an additional project and investment on top of the purchase price.

5. How does the lack of a garage affect daily life and value?
For this neighbourhood, not having a garage is common. Buyers should plan for street parking and consider the impact during Winnipeg winters. The value is already reflected in the home’s price point relative to similar properties that may include a garage.