Property Overview: 553 Stella Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This is a compact, one-storey character home built in 1903, situated on an exceptionally large lot in the Dufferin neighbourhood. Its primary appeal lies in the significant land size (over 7,350 sqft), which is well above average for the street, area, and city. This presents a substantial opportunity for expansion, gardening, or outdoor living. The home itself is modest at 648 sqft of living space and features a renovated basement. Recent sale prices have been stable, and its assessed value is typical for the immediate area.

The property would best suit a specific type of buyer: a hands-on individual or small household looking for an affordable entry into homeownership with a clear value proposition in the land itself. It’s ideal for someone with renovation or expansion plans, or who prioritizes private outdoor space over a large interior. It’s less suited for those seeking a move-in-ready home with ample square footage or modern amenities.

Section 2: Frequently Asked Questions

1. Is the home livable in its current state?
While the basement is renovated, the main living area is quite small at 648 sqft. Buyers should be prepared for the layout and condition of a century-old home and budget for potential updates to suit modern living.

2. What can be done with such a large lot?
The lot size is the standout feature. Possibilities could include a significant addition to the existing home, building a detached garage or workshop, or creating extensive garden/landscaped spaces. Any major structural changes would require checking with the city for zoning and permitting.

3. How does the assessed value relate to the likely sale price?
The municipal assessed value is very low ($14,800) for tax purposes and does not reflect market value. Recent sale prices (around $160k) are a more accurate guide, with the price primarily reflecting the land value and location.

4. What is the neighbourhood like?
The home is in Dufferin, a central Winnipeg neighbourhood with character homes. As with any area, it’s advisable to visit at different times to get a feel for the street and nearby amenities.

5. Are there any obvious concerns with a house this old?
Any home over 120 years old will require diligent inspection. Key considerations should include the foundation, roof, wiring, plumbing, and heating systems to understand what maintenance or upgrades may be imminent.