Property Summary: 638 College Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-a-half storey home, built in 1913, presents a straightforward opportunity in Winnipeg's Inkster-Faraday neighbourhood. Its key characteristics are defined by context: with just over 1,000 sqft of living space, it sits around the average size for its immediate area and street. The assessed value follows a similar pattern, being typical for the local market but notably below the citywide average, indicating its positioning within a more affordable segment of Winnipeg.

The primary appeal lies in its affordability and practicality for the right buyer. It suits first-time homebuyers seeking an entry point into the market, or investors looking for a rental property with a lower initial investment. The home has an unfinished basement, offering potential for future customization or additional storage. A thoughtful perspective for a home of this era is its established location; being on a street with many similar-aged homes can mean predictable neighbourhood character and fewer surprises compared to newer, more mixed developments.

It’s important to note the lot size is compact, significantly smaller than area averages. This translates to lower maintenance but less private outdoor space. This isn't a home for those seeking a large yard, but rather for those who prioritize a simpler, more manageable property footprint.

Section 2: Frequently Asked Questions

1. What is the exact recent sold price?
The available public data shows a sale in July 2021 in the range of $14.5k to $17.5k. For the precise sale price, you can request it via email from the listing source, as this information is verified and provided manually.

2. What does the "below average" citywide assessed value mean?
While the home's value is typical for its specific neighbourhood and street, it is below the average for the entire City of Winnipeg. This highlights the property's location in a more affordable market segment, not necessarily a reflection on the condition of this specific house.

3. Is the basement usable in its current state?
The listing specifies the basement exists but is "not renovated." It is unfinished, meaning it likely has raw walls (concrete or studs), basic flooring, and is suited for storage or mechanicals. Any finished living space would require a renovation.

4. How does the small lot size impact the property?
With a land area of 2,276 sqft, the lot is smaller than most in the area. This means a smaller yard for gardening or recreation, but also less time and cost required for lawn care and exterior maintenance—a potential upside for some buyers.

5. What can the year built (1913) tell me?
A home from 1913 will have character and solid construction but may require updates to mechanical systems like wiring or plumbing. It's advisable to have a thorough inspection to understand the condition of these older components and plan for potential maintenance inherent to a century-old structure.