Property Overview: 783 Stella Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-a-half storey home, built in 1913, presents a classic Winnipeg character property with practical fundamentals. Its key characteristics include 1,010 sqft of living space, an unrenovated basement, a detached garage, and a 3,866 sqft lot. The home’s assessed value is notably modest at $110k.

The primary appeal lies in its position as an affordable entry point into the Dufferin neighbourhood. The property sits on a standard lot for the area and offers a functional footprint that is typical for its immediate street and community, making it a straightforward, no-frills opportunity. It would suit a first-time buyer comfortable with a home of vintage character, an investor looking for a rental property with a low entry cost, or a hands-on individual who sees potential in a property where value can be added over time through updates. A less obvious perspective is that, while its city-wide rankings for size and value are below average, this precisely underscores its role in the market: it provides accessibility. For the right buyer, its "around average" standing within its own neighbourhood is more relevant, indicating it's a representative and competitively priced option in this specific locale.

Section 2: Frequently Asked Questions

1. What does "one-and-a-half storey" typically mean for a home of this era?
It usually indicates a home with a full main floor and a second floor under a sloped roof, where the upstairs rooms may have lower ceilings or dormer windows. This is a common, space-efficient design for Winnipeg homes built in the early 20th century.

2. The assessed value is $110k, but it sold for $13.60k in 2022. Why the large difference?
The 2022 sale price is extremely low and is not a market indicator. It likely represents a non-arms-length transaction, such as a transfer between family members, or was part of an estate settlement. The current assessed value is the relevant figure for municipal taxes and provides a more realistic baseline for its market valuation.

3. How does the unrenovated basement impact the home's utility and value?
It offers functional space for storage, laundry, and mechanical systems but will lack finished living areas. This presents both a cost-saving advantage (reflected in the price) and future potential. Buyers should budget for any necessary updates to ensure it is dry, safe, and properly insulated.

4. The home is older—what should I prioritize during an inspection?
Given its age, a thorough inspection of the foundation, roof, wiring, and plumbing is essential. The inspection will clarify the condition of these major systems and help distinguish between charming vintage character and items requiring immediate investment.

5. How does this property compare to others in Winnipeg?
The data shows it is a smaller, more affordable property compared to the Winnipeg city-wide average for both size and value. Its true comparison is within the Dufferin neighbourhood and on Stella Avenue itself, where it aligns closely with the typical home in terms of living space, lot size, and assessed value. This suggests it is a standard offering for this specific community.