Property Overview

This one-storey home at 813 Lorette Avenue in Winnipeg's Earl Grey neighbourhood presents a specific and practical value proposition. Its key appeal lies in being a more recently built, manageable property within a well-established area. With a living area of 648 sqft, it is notably compact, ranking in the smaller tier for the street, neighbourhood, and city. This is balanced by a 1962 build year, which is newer than most comparable homes nearby. The assessed value of $260k positions it below average for the area, suggesting a potentially accessible entry point. The lot is also compact at 2,531 sqft, and the home features a renovated basement and a detached garage.

This property would suit a first-time buyer, downsizer, or pragmatic investor seeking a lower-maintenance footprint without venturing into new suburbs. Its smaller size means lower utility costs and less upkeep, while its age offers more modern infrastructure than many century-old homes in the area. It’s a practical choice for someone prioritizing location and financial efficiency over space, ideal for a minimalist lifestyle or as a strategic hold in a desirable neighbourhood.

Frequently Asked Questions

Is this a good value for the area?
The assessed value is below the average for both Lorette Avenue and the wider Earl Grey neighbourhood, which suggests a relatively accessible price point for the location. Value here is tied more to land and location than to the size of the home itself.

What are the main compromises with a home of this size?
At 648 sqft, living space is limited. This typically means fewer or smaller rooms, constrained storage, and less space for entertaining or a growing family. The layout and functionality of the renovated basement will be crucial to the home's overall livability.

How does the 1962 build year compare to nearby homes?
This is a standout feature. Most comparable homes on the street and in Earl Grey are significantly older, averaging build years of 1951 and 1928, respectively. A 1962 home may benefit from more modern wiring, plumbing, and insulation standards.

What does the compact lot size mean for me?
The 2,531 sqft lot is smaller than most in the area. This translates to less yard for gardening, play, or expansion, but also significantly less maintenance—less mowing, gardening, and snow clearing—which can be a positive for those seeking simplicity.

Are there any obvious red flags based on the data?
The data shows the home is smaller and on a smaller lot than typical, which is not a red flag but a clear characteristic. A key consideration is ensuring the renovation work, particularly in the basement, was completed with proper permits and to a high standard, as this significantly impacts the home's value and safety.