Property Overview & Key Characteristics

This 1922 one-and-a-half storey home on Boyd Avenue presents a straightforward opportunity in Winnipeg's Burrows Central neighbourhood. Its primary appeal lies in its land value and location, rather than the size or condition of the existing structure. The home itself is compact at 616 sq ft, with an unrenovated basement and a detached garage, indicating it's likely a fixer-upper or a candidate for redevelopment. The lot is a standard city size for the area at just over 3,000 sq ft.

The property's standout characteristic is its financial profile. With a very low assessed value and a recent sale price around $17,600, it represents one of the most accessible price points in the city. This isn't a move-in-ready home; it suits a specific buyer. It would be ideal for an investor looking for a rental property after renovations, a hands-on buyer seeking an extremely affordable entry into homeownership with renovation plans, or a land-bank investor attracted by the lot value in a stable, established neighbourhood. Its value is fundamentally in the potential it holds, not in its current state.

Frequently Asked Questions

1. Is this a liveable home in its current condition?
Based on the listed details (original 1922 build, unrenovated basement, and very small living area), it is likely dated and in need of significant updates. A thorough inspection would be essential to determine if it is safely habitable or if it requires immediate major repairs.

2. Why is the assessed value so much lower than the city average?
The assessed value reflects the property's current state—a very small, older home on a standard lot. It is assessed around the average for its immediate street and neighbourhood, but far below the Winnipeg average because it lacks the size, updates, and features of a typical city-wide home.

3. What are the main costs or challenges a buyer should anticipate?
Buyers should budget for modernization and potentially major system updates (plumbing, electrical, heating). The small living area may also pose a layout challenge for growing families unless an expansion is planned. The unrenovated basement may have moisture or foundation issues that need addressing.

4. Is this property a good candidate for a "tear-down" and rebuild?
While possible, the lot size is typical for the area and not exceptionally large. The financial feasibility of a tear-down would depend heavily on the cost of new construction versus the potential market value of a new home in Burrows Central. It may be more economically prudent for most buyers to consider a major renovation and addition.

5. How does the small living area compare to nearby homes?
The 616 sq ft living area is notably smaller than most comparable homes on its own street and in the wider neighbourhood. This confirms the home's status as a compact starter property or investment project, not a standard family-sized dwelling in its current layout.