Property Summary: 591 Warsaw Avenue, Earl Grey, Winnipeg

Section 1: Overview & Appeal

This two-storey home, built in 1911, presents a classic character property with modern updates in the desirable Earl Grey neighbourhood. Its key appeal lies in a balance of historic charm and practical renovation, notably in the finished basement. With 1,192 sqft of living space, the home sits around the neighbourhood average for size, making it a comfortable fit for small families, couples, or downsizers.

The property’s standout characteristic is its assessed value, which ranks in the top 10% for both its street and Earl Grey. This suggests a perception of above-average quality or desirability relative to its immediate peers. While the lot is modest for the city, it is typical for the area, offering manageable upkeep. The home’s age is a double-edged sword: it promises unique architectural details but also implies a need for thoughtful maintenance. This property would best suit a buyer looking for an established, character-filled neighbourhood home that has seen key updates, without the scale or maintenance demands of a much larger lot or a newer build.

Section 2: Frequently Asked Questions

1. What does the high assessed value ranking actually mean?
It indicates that the municipal assessment for this home is notably higher than most comparable properties on its street and in Earl Grey. This often reflects recent renovations, desirable features, or overall condition that the assessor recognizes, which can be a positive signal of value.

2. Are there concerns with a house built in 1911?
While the renovated basement is a significant update, a home of this age will have vintage systems and materials. Prospective buyers should prioritize inspections focused on the foundation, wiring, plumbing, and insulation to understand what modernizations have been done and what may be needed.

3. The lot size is below the city average. Is that a drawback?
For this neighbourhood, the lot is quite typical. It offers a balance of outdoor space without the extensive maintenance of a larger yard, which can be a practical advantage for many buyers.

4. How does the recent sale price compare to the assessment?
The home sold for $410,000 in August 2024, which is significantly higher than its $42,500 assessed value. It’s important to understand that municipal assessed value is for taxation purposes and rarely equals market value; the sale price is the true indicator of its current market worth.

5. What is the neighbourhood like?
Earl Grey is a mature, established community near the Corydon area, known for its tree-lined streets, character homes, and convenient access to local shops, restaurants, and schools. This location offers a quiet residential feel with urban amenities close by.