Property Overview: 185 Johnson Avenue W

Key Characteristics & Appeal

This home is a one-and-three-quarter storey property built in 1907, presenting a classic character home opportunity. Its primary appeal lies in its generous 5,745 sqft lot, which is notably larger than most in the immediate area and ranks within the top 17% on its street. While the living space is a practical 1,032 sqft, the significant lot size offers substantial potential for expansion, gardening, or outdoor living. A key updated feature is the renovated basement, adding modern functionality to the historic structure. The home includes a detached garage.

Its assessed value is significantly below the Winnipeg city average, positioning it as an accessible entry point into the market. This property would suit a value-conscious buyer, such as a first-time homeowner or an investor, who is drawn to historic charm and sees potential in a large, versatile lot. It’s ideal for someone comfortable with the ongoing maintenance of an older home but who appreciates having one major renovation (the basement) already completed.

Frequently Asked Questions

1. What does the "renovated basement" entail?
The listing confirms the basement has been renovated, but specifics on finish quality, ceiling height, moisture control, or permitted uses (e.g., legal suite potential) would require an inspection and discussion with the seller.

2. Given the age of the home, what should I budget for maintenance?
Built in 1907, proactive maintenance is key. A thorough inspection is essential to assess the condition of major aging components like the roof, foundation, plumbing, and electrical systems, which will inform your ongoing budget.

3. How does the low assessed value impact property taxes?
A below-average assessed value typically results in lower annual property taxes compared to newer or larger homes in the city, which is a financial advantage for the owner.

4. Can the large lot be subdivided or developed?
The 5,745 sqft lot is a standout feature. Any plans for subdivision, building an addition, or constructing a secondary suite would require investigation into local zoning bylaws and obtaining the necessary city permits.

5. Why is there such a difference between the last sale price and the current assessed value?
The home sold for $17,400 in 2017, and its current assessed value is $20,200. This difference can reflect market changes, assessed value adjustments by the city, and any documented improvements made to the property in the interim.