Property Summary: 525 Flora Avenue, Winnipeg

Key Characteristics & Appeal

This is a compact, one-and-a-half storey home in Winnipeg's Dufferin neighbourhood, built in 1902. With 1,152 sqft of living space and a renovated basement, it offers a practical layout on a smaller, 2,816 sqft lot. Its appeal lies in its straightforward, manageable size and its position as a historically typical home for the immediate area. When compared to other homes on Flora Avenue and in Dufferin, its living space and assessed value are consistently around the neighbourhood average, suggesting it fits the local market norm rather than standing out as oversized or overvalued.

The property would suit a first-time buyer or an investor looking for an entry-point into the market with a home that requires little imagination—it’s a known quantity for the street. It may also appeal to someone seeking a lower-maintenance footprint without the burden of a large yard. A thoughtful perspective is that while its lot size is below average, this can translate to less exterior upkeep. Its age and smaller scale mean utility costs and property taxes could be more contained compared to larger, newer builds, offering a different kind of value.

Frequently Asked Questions

1. How does this home compare to others in the area?
Based on available metrics, this home is very typical for Flora Avenue and the Dufferin neighbourhood. Its living area and assessed value are both around the local average, meaning it is neither exceptionally large nor small for the area.

2. What should I consider about the home’s age?
Built in 1902, the home is among the older properties on its street and in the city. While it features a renovated basement, potential buyers should factor in the possibility of age-related maintenance for other original components, such as plumbing, wiring, or the foundation.

3. The lot seems smaller than average. Is that a concern?
The land area is below the average for the street, neighbourhood, and city. This means less private outdoor space and potentially less room for expansions or additions. However, it also means less yard work and lower exterior maintenance costs.

4. Why is the citywide assessed value ranking so low?
The assessed value is typical for its local area, but ranks low citywide because assessment values in central, older neighbourhoods are often much lower than in newer suburban areas with larger, more modern homes. This does not necessarily reflect the home’s market value or desirability within its own community.

5. Who would this property be best for?
This home is best suited for a pragmatic buyer seeking an affordable, no-frills starter home or investment property in a central neighbourhood. It’s for someone who prioritizes location and manageability over modern size standards or extensive outdoor space.