Property Overview: 878 College Avenue, Winnipeg

Key Characteristics & Appeal

This is a compact, century-old one-and-a-half storey home in Winnipeg's Burrows Central neighbourhood, built in 1914. Its key characteristic is its modest scale on a standard city lot. With 720 sqft of living space and an unrenovated basement, it is a smaller home, ranking below average in size both for its street and the wider city. The lot size of 2,277 sqft is also more compact than many in the area.

The primary appeal lies in its position as an affordable entry point into the market, underscored by its recent sale price of $210k, which was above average for College Avenue. It suits first-time buyers, investors, or downsizers seeking a low-maintenance footprint with potential. The home’s assessed value is notably low ($13.5k), which may indicate favourable property tax obligations. A thoughtful perspective is that its smaller scale and older vintage could appeal to those specifically seeking a minimalist lifestyle or a manageable project without the burden of an oversized lot. Its average age for the street suggests it fits the established character of the area, which can offer stability.

Frequently Asked Questions

1. What does "below average" for lot and living area mean practically?
It means the property is more compact than many others. The home itself is cozy, and the yard is smaller, which translates to less maintenance but also less private outdoor space compared to some neighbours.

2. Why is the sale price so much higher than the assessed value?
Municipal assessed value for taxes is often based on older market data and mass appraisal techniques, not current market conditions. The sale price reflects what a buyer was willing to pay recently, while the low assessment could result in relatively lower property taxes.

3. Who would this property be a good fit for?
It's best suited for a first-time homebuyer or an investor looking for an affordable, no-frills property. Its size also makes it a potential option for someone downsizing who wants to stay in the area without the upkeep of a larger home.

4. What should I consider about the "unrenovated basement"?
This typically means the basement is in original or functional condition, but not modernized. It likely has lower ceilings, older finishes, and serves primarily as utility and storage space. It presents future potential but would require investment to become finished living area.

5. How does this home compare to others nearby?
It sits on a street of similarly aged homes but is physically smaller than most on College Avenue. The recent sale price suggests it was viewed as good value within its immediate locale, even though its size metrics are below the city-wide averages.