Property Overview: 833 Lorette Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This 1947 bi-level home in Earl Grey presents a practical and straightforward opportunity. With 850 sqft of living space and a renovated basement, it offers functional living on a decently sized lot. Its core appeal lies in its position as a solid, no-frills property in a well-regarded neighbourhood. The home’s metrics are consistently "around average" for its specific street and local area, suggesting it fits neatly into the existing fabric of Lorette Avenue without standing out for extreme size, value, or age.

This property would suit a first-time buyer or a practical downsizer looking for an entry point into the Earl Grey area without a premium price tag. It’s for someone who values a renovated basement for extra space and prefers a home that is ordinary in scale but situated in an established community. A thoughtful perspective is that while the home is below the citywide averages for size and value, it actually ranks above average for its year built within Earl Grey itself, indicating it’s a relatively younger home in a neighbourhood with many heritage properties. This could mean a potentially simpler maintenance profile compared to older neighbours.

Section 2: Frequently Asked Questions

1. How does this home’s value compare to the area?
The assessed value is around average for both Lorette Avenue and the wider Earl Grey neighbourhood. This suggests the property is priced in line with local expectations, not under or over-valued relative to its immediate peers.

2. Is the living space small?
At 850 sqft, the living area is below the city average but is typical for homes on this street. The renovated basement provides additional usable space, making the overall footprint more functional than the main floor square footage alone might indicate.

3. What does the "above average" year built ranking mean for Earl Grey?
While built in 1947, this home is newer than many in Earl Grey. Ranking in the top 20% for year built in the neighbourhood suggests it may have fewer of the extreme upkeep challenges sometimes associated with the area's much older, early-1900s homes.

4. What is the land like?
The lot is approximately 3,796 sqft. It’s larger than many lots in Earl Grey (ranking above average) but smaller than the typical Winnipeg lot. This offers a good balance of outdoor space without excessive maintenance.

5. Are there comparable recent sales?
The provided data shows a sale in November 2022 for $27.5k. For more current comparisons, the listing references nearby properties on Lilac Street and Scotland Avenue, which have varying sizes, ages, and values, highlighting the diversity of housing options within the same community.