Property Overview: 872 College Avenue, Winnipeg

Key Characteristics & Appeal

This is a compact, early 20th-century one-and-a-half storey home in Burrows Central, built in 1914. Its primary appeal lies in its position as an accessible entry point into the Winnipeg market. With 825 sqft of living space, a detached garage, and an unrenovated basement, it presents a straightforward, no-frills opportunity.

The lot, at 2,277 sqft, is notably smaller than most in the city, but is relatively standard for the immediate area. This can be a practical advantage for buyers seeking minimal yard maintenance. The home’s assessed value is significantly below both area and city averages, indicating a lower property tax burden and a potentially lower acquisition cost. It last sold in August 2022 for $16,500.

This property would suit a first-time buyer, an investor looking for a hands-on project, or someone seeking a modest, utilitarian home with the core features (garage, basement) intact. Its smaller scale and vintage charm may also appeal to those looking to downsize or minimize their footprint without moving into an apartment. A key, less obvious perspective is that a home of this age and size on a smaller lot can represent a manageable stewardship project—preserving a piece of the neighborhood’s architectural history without the overwhelming scale and cost of a larger heritage property.

Frequently Asked Questions

1. What does "below average" for land and living area practically mean?
It means the lot and house are physically smaller than most homes in Winnipeg. For the right buyer, this translates to less exterior maintenance and lower heating costs, but also less interior space and storage.

2. Is the low assessed value a red flag?
Not necessarily. It primarily reflects the home’s modest size, age, and market segment. A low assessment typically results in lower municipal property taxes, which is a financial positive for the owner.

3. What should I expect with an "unrenovated basement"?
You should anticipate a basement in its original or utilitarian state. It likely has concrete walls and floors, basic lighting, and is suited for storage or mechanical systems rather than finished living space. It should be inspected for moisture issues common in homes of this era.

4. The home sold very recently (2022). What does that indicate?
The quick turnaround could be due to many factors, such as an investor flipping the property, a change in the owner’s circumstances, or it being part of an estate. It’s important to inquire about any work done in the last two years and the seller’s reason for listing.

5. How does the smaller lot size affect future plans?
A smaller lot limits possibilities for large additions, pools, or extensive outdoor structures. However, it simplifies landscaping and may foster a sense of community as homes are closer together. Always check local zoning bylaws for setback requirements and permissible builds.