Property Overview: 480 Stella Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-three-quarter storey home, built in 1899, is a character property situated on a notably large lot in the Dufferin neighbourhood. Its key appeal lies in its generous proportions and established location. The living space (1,394 sq ft) is above average for both the street and the area, and the land area (7,354 sq ft) is a significant asset, ranking well above local and city-wide averages. This presents a rare opportunity for a spacious yard, gardening, or future expansion in a mature community.

The home suits two primary types of buyers. First, it’s ideal for a value-conscious buyer or renovator who appreciates historic charm and is prepared to update a home with an unfinished basement and likely older systems. Second, the expansive lot size will strongly appeal to those prioritizing outdoor space over a modern, turn-key interior. It’s a property where the land itself is a major driver of value and potential. A thoughtful perspective is that while the assessed value is high for the immediate area, it is below the city average, suggesting a more affordable entry point into a home with substantial physical attributes. The 2017 sale price provides a solid, recent benchmark for value.

Section 2: Frequently Asked Questions

1. What does “above average” for the area really mean for this house?
The data shows that for its immediate street and the Dufferin area, this home ranks in the top 18-24% for living space and land size. This means it is physically larger than most comparable properties nearby, which is a key differentiator.

2. The house was built in 1899. What should I consider?
While full of character, a home of this age will likely require careful attention to foundational integrity, wiring, plumbing, and insulation. The unfinished basement offers a clear view of some structural elements, which is an advantage for inspections. Budgeting for updates and maintenance is essential.

3. How significant is the lot size?
The lot is a major feature. At over 7,350 sq ft, it is approximately 40% larger than the average lot on Stella Avenue and 70% larger than the Dufferin area average. This allows for more privacy, recreational space, and future possibilities like a garage, workshop, or addition, subject to zoning.

4. Why is the city-wide assessed value ranking so low (Top 96%)?
This ranking indicates the home’s assessed value is lower than about 96% of all properties in Winnipeg. This doesn’t reflect quality, but rather the lower property values in the Dufferin area compared to newer or more affluent neighbourhoods city-wide. It highlights the area’s relative affordability.

5. Who is this home not suited for?
It is likely not a match for buyers seeking a modern, low-maintenance, or immediately updated home. Given the unfinished basement and age, it is also less suited for those without the financial flexibility or desire to handle renovations and the ongoing upkeep of a century-old property.