Property Overview: 580 Warsaw Avenue, Earl Grey, Winnipeg

Key Characteristics, Appeal & Ideal Buyer

This is a classic two-and-a-half storey home in the established Earl Grey neighbourhood, built in 1914. Its primary appeal lies in its generous and well-proportioned living space. At 1,907 square feet, the home offers significantly more room than most comparable properties on its street and within the neighbourhood, placing it in the top tier for living area. This suggests a layout with substantial rooms, a valuable asset in an older home.

The property suits buyers looking for character and space in a central location, who are prepared for a project. The basement is noted as unrenovated, presenting both a blank canvas and a consideration for future investment. There is no garage, which is common for the area, but the lot size is typical for the street. The assessed value is above average for Earl Grey, reflecting the desirable location and the home's substantial size. A thoughtful buyer will see the value in the existing square footage and the potential to modernize systems and finishes over time, rather than seeking a move-in-ready new build.

Frequently Asked Questions

1. What does "two-and-a-half storey" mean for this home?
This typically describes a home with two full floors of living space and a smaller third floor, often in the roofline, which could be used as additional bedrooms, a study, or storage. Given the large square footage, this home likely has very functional upper floors.

2. The assessed value seems low compared to the sale price from 2020. Why is that?
Assessed value for property tax purposes often lags behind market value and is calculated using different metrics. The 2020 sale price of $27,300 is a historical data point and not a current market valuation. The current assessed value of $37,200 is used for calculating municipal taxes and is above the neighbourhood average.

3. What are the implications of an unrenovated basement?
An unrenovated basement offers potential for customization (e.g., creating a rec room, suite, or workshop) but requires a thorough inspection. Key considerations are the foundation's condition, ceiling height, moisture control, and the state of mechanical systems like the furnace and hot water heater.

4. How does the lack of a garage affect daily living and value?
On-street parking is the norm here. For some buyers, this is a trade-off for the neighbourhood's charm and central location. The value impact is already reflected in the home's price and assessment relative to other homes in Earl Grey, which also largely lack garages.

5. The home is over a century old. What should I prioritize in an inspection?
Beyond standard checks, focus on the integrity of the original structure, updates to electrical and plumbing systems, roof age and condition, window efficiency, and insulation. The inspection should confirm that the home's notable size is matched by sound foundational and structural health.