Property Overview: 1497 Manitoba Avenue, Winnipeg

Key Characteristics & Appeal

This is a modest, one-and-a-half storey home built in 1950, situated on a notably spacious lot in the Burrows-Keewatin neighbourhood. Its primary appeal lies in its land value and practicality. The property features a renovated basement, adding functional living space to the 900 sqft main floor area. It sits on a 4,893 sqft lot, which is significantly larger than many lots on its street and in the immediate area, offering above-average outdoor space and potential.

The home suits first-time buyers or investors looking for an entry point into the Winnipeg market with a focus on the land itself. It’s a straightforward property where the value is grounded more in the parcel size and location than in the size or modernity of the dwelling. A thoughtful perspective for a buyer might be to see the home as a comfortable starting point with the lot size providing a long-term advantage—whether for personal use, expansion, or future redevelopment—that many newer properties in the city simply cannot offer at this price point.

Frequently Asked Questions

1. Why is the assessed value so much lower than the recent sale price?
The assessed value is for municipal tax purposes and often lags behind the current market, which is driven by buyer demand, recent renovations, and overall market conditions at the time of sale.

2. What does "one-and-a-half storey" mean for this home?
Typically, this style features a main floor with living areas and a second floor under sloped roofs, creating cozy bedrooms or storage spaces. It’s a classic Winnipeg design that maximizes space efficiently.

3. The living area is listed as below average city-wide. How does the renovated basement factor in?
The 900 sqft measurement is for above-ground living space. The renovated basement adds additional finished area, which increases the home’s usable space but is not always included in official living area calculations.

4. How does the lot size compare to a typical new home?
At nearly 4,900 sqft, this lot is larger than the average for newer Winnipeg subdivisions, where lots are often narrower and deeper. This provides more side yard space and a greater sense of openness.

5. The home sold recently in 2022. What might that indicate?
A relatively recent sale suggests the current market price is well-established from a recent transaction. It can also indicate a neighbourhood with active turnover, but potential buyers should investigate the reasons for the quick resale.