Property Overview & Appeal

This one-and-three-quarter storey home on Flora Avenue is a classic Winnipeg character property, built in 1903. Its key appeal lies in its substantial, historic lot—at 2,828 sq ft, the land area ranks in the top 11% for the street—offering rare space and potential in an established neighbourhood. The home itself presents a straightforward opportunity: it has a functional living space of 1,190 sq ft and an unrenovated basement, but no garage or pool. The extremely low assessed value indicates this is a project property, ideal for a buyer looking for a blank canvas, whether as a long-term renovation project, a hold for land value, or an investment opportunity in the Dufferin area. It would suit an experienced renovator, an investor comfortable with a value-add project, or a buyer primarily motivated by securing a large lot in the city core. A less obvious perspective is that homes from this era, while needing work, often feature solid bones and layouts that are difficult to find in newer builds, offering a chance to blend historic charm with modern amenities.

Frequently Asked Questions

1. What does the extremely low assessed value mean?
A very low assessed value, especially compared to nearby properties, typically indicates the city’s assessment is based primarily on the land value rather than the current building. This often reflects a home in need of significant updating or repair.

2. What are the implications of an "unrenovated" basement?
This usually means the basement is in its original or rough state. It likely has foundational and structural utility but will require investment to finish for living space. It’s essential to have it inspected for moisture, insulation, and plumbing/electrical updates.

3. Who is the typical buyer for a property like this?
This property is geared toward buyers looking for a project. This includes renovators, investors building a portfolio with sweat equity, or buyers with the vision and budget to modernize a character home over time.

4. How significant is the lot size?
At over 2,800 sq ft, the lot is a standout feature. It offers more outdoor space than many newer infill properties and provides flexibility for future additions, landscaping, or parking solutions, which adds long-term value.

5. What should I research about the neighbourhood?
Prospective buyers should look into the specific block’s character, recent sales of renovated homes nearby to gauge potential, and any area development plans. It’s also wise to understand the typical mix of owner-occupied versus rental properties on the street.