Property Overview: 1560 Manitoba Avenue, Winnipeg

Key Characteristics & Appeal

This is a classic one-storey home built in 1947, situated on a notably spacious lot of nearly 5,000 square feet in the Burrows-Keewatin area. The home itself offers 992 sqft of living space, which is modest but above average for the immediate neighbourhood. Key features include a detached garage and a basement that is present but not renovated. The property’s primary appeal lies in its land value and location on a major artery. The lot size ranks in the top 21% along Manitoba Avenue, offering more outdoor space and future potential than many comparable properties.

Its assessed value is consistently above average for both the street and the neighbourhood, yet remains well below the city-wide average, indicating a more accessible entry point into the Winnipeg market. Recent sale history shows significant appreciation between 2020 and 2022. This property would suit a value-conscious buyer, such as a first-time homeowner or an investor, who prioritizes land size and location over a move-in-ready condition. It’s a practical choice for someone comfortable with a home that may require updates, viewing the unrenovated basement and older structure not as drawbacks, but as a blank canvas to add value over time.

Frequently Asked Questions

1. What does the "above average" assessed value for the neighbourhood actually mean?
It means the city’s tax assessment of this property is higher than most similar homes in Burrows-Keewatin. This often reflects the desirable lot size and location on a main road, but it also means property taxes will likely be proportionally higher than on a lower-assessed home in the same area.

2. Is the unrenovated basement finished or usable?
The listing specifies the basement is "not renovated." This typically means it is unfinished (concrete floors and walls, exposed utilities) and used for storage or mechanicals. It presents both a cost and an opportunity for future development.

3. The home sold for $32.20k in 2022, but the assessed value is only $25.20k. Why the difference?
Assessed value is for municipal taxation and often lags behind the actual market. The sale price is what a buyer was willing to pay in the open market, which in this case was significantly higher, indicating strong demand or perceived value at that time.

4. How does the larger lot size benefit me?
Beyond extra yard space, a larger lot offers more flexibility for parking, gardening, additions like a shed or deck, and potentially future development (subject to zoning bylaws). It’s a tangible asset that typically appreciates and is less common on main avenues.

5. The home is older and on a busy street. What should I consider?
An older home (1947) requires a diligent inspection for foundational integrity, wiring, plumbing, and insulation. Being on Manitoba Avenue means convenient access to transit and amenities, but also expects higher traffic noise and less secluded curb appeal compared to a quiet residential street.