Property Overview & Key Characteristics

141 Yale Avenue is a substantial, century-old two-and-a-half storey home in Winnipeg's prestigious Crescentwood neighbourhood. Its primary appeal lies in its exceptional scale and prime location. The nearly 4,800 sq ft of living space sits on an oversized 13,450 sq ft lot, with both metrics ranking in the top 2-3% of the area, offering rare potential for expansion or landscaping. A detached garage is noted. The home presents as a classic "value-add" opportunity; it features an unrenovated basement and, given its age, likely requires modernization throughout. Its assessed value is significantly higher than its last sale price in 2016, suggesting the market recognizes its underlying asset value.

This property is best suited for a specific buyer: one with the vision and capital for a significant restoration or rebuild. It’s a prime candidate for a custom home builder, a developer (subject to zoning), or a family seeking a long-term project to create a bespoke estate in one of Winnipeg’s most established neighbourhoods. Its value is less in its current condition and more in its irreplaceable land size and elite positional rankings within the city.

Frequently Asked Questions

1. What does "unrenovated basement" typically imply?
It usually indicates original or outdated conditions, which may include low ceilings, older foundation materials, and basic mechanical systems. It should be inspected for moisture issues, but it also represents a blank slate for a future owner's design.

2. The assessed value is much higher than the 2016 sale price. What does this mean?
This gap often reflects strong market appreciation for the land and location, not the current state of the house. It indicates the city's valuation of the property's potential, which a new owner would pay property tax on, but it also signals significant equity may be gained through renovation.

3. Who is the "For Reference" property at 172 Kingsway?
This is a comparable listing in the same neighbourhood, provided to give context on price, size, and value within Crescentwood. It helps illustrate where 141 Yale Avenue stands relative to other available properties.

4. Is the large lot size a guarantee I can add an addition or rebuild?
While the lot size is a major advantage, any significant structural changes would require checking current City of Winnipeg zoning bylaws, heritage designations (if any), and obtaining the necessary permits. The potential is high, but not automatic.

5. The home is over 110 years old. What should I budget beyond the purchase price?
Prospective buyers should budget for a comprehensive inspection and anticipate significant investments in modernizing plumbing, electrical, heating, and insulation to current standards. The project scope is substantial, aligning with the property's character as a long-term legacy investment rather than a move-in-ready home.