Property Overview & Key Characteristics

This one-and-three-quarter storey home, built in 1912, presents a classic character property with a focus on its land and location. Its primary appeal lies in its generous 3,083 sqft lot, which is notably larger than many in the immediate area, offering potential for outdoor space or future expansion. With 1,207 sqft of living space, the home itself is above average for its street, providing comfortable room. It features a basement, though it is noted as not renovated, and does not include a garage or pool.

The property suits practical buyers looking for a footprint in the established Centennial neighbourhood. It is particularly well-matched for value-oriented purchasers—such as investors, renovators, or first-time buyers comfortable with a project—who are more interested in the underlying asset than in move-in-ready finishes. The home’s significantly below-average assessed value compared to the city at large suggests a lower entry point, making it a candidate for those seeing potential where others might overlook. A thoughtful perspective is that this property represents a balance: it offers more house and land than many on its street, yet its unrenovated state and valuation indicate it’s a canvas rather than a completed work.

Frequently Asked Questions

1. What does “one & 3/4 storey” mean?
This is a traditional architectural style where the second floor is typically smaller than the main floor, often with sloped ceilings or dormer windows, common in homes of this era. It provides more space than a bungalow but with a different layout than a full two-storey.

2. Is the basement finished or usable for storage?
The listing specifies the basement exists but is “not renovated.” It should be considered unfinished utility space, suitable for mechanical systems and likely storage, but not as livable finished rooms.

3. How does the low assessed value affect property taxes?
A lower assessed value generally results in lower municipal property taxes, which is a financial positive. However, it’s also a strong indicator that the property is valued well below the Winnipeg average, reflecting its condition, age, and market segment.

4. What is the significance of the lot size being “above average” for the street?
In established neighbourhoods, a larger-than-average lot is a valuable asset. It provides more private outdoor space, better potential for landscaping, parking, or additions, and can contribute significantly to the property’s long-term value relative to its neighbours.

5. The home sold twice recently (2020 and 2021). Should that be a concern?
The recent sales history indicates active turnover, which is not uncommon for properties at this price point. It doesn’t inherently signal a problem but underscores that it has been of interest to investors or flippers. It’s a point for due diligence to understand any work done during those periods.