Property Summary: 694 College Avenue, Winnipeg

Key Characteristics & Appeal

This two-storey home in Inkster-Faraday is defined by its generous proportions and solid value within its immediate area. Built in 1913, its key characteristic is its above-average 1,482 sqft of living space, which ranks in the top 15% of homes on its street and the top 7% within the neighbourhood. It sits on a larger-than-average lot for the area (4,553 sqft), offering good outdoor space. The basement has been renovated, adding functional living area. While its citywide assessed value is modest at $240k, this represents strong value locally, ranking above average for both College Avenue and the Inkster-Faraday community.

The appeal lies in securing a spacious, character home with updated fundamentals in an established neighbourhood, without a premium citywide price tag. It suits practical, value-oriented buyers—such as growing families, multi-generational households, or investors—who prioritize interior space and lot size over a newer build or high-end finishes. A thoughtful perspective is that this property represents a "neighbourhood anchor": it outperforms most local comparables in key metrics, suggesting a well-positioned asset within its specific community context, even if it isn't a high-value player citywide.

Frequently Asked Questions

1. Is the $240k assessed value a reliable indicator of the market price?
While assessed value is for tax purposes, here it strongly indicates the home is a higher-tier property within Inkster-Faraday. However, recent sold data (like a neighbouring home selling between $195k-$225k in 2017) and current market conditions must be reviewed for an accurate price.

2. What are the implications of the home being built in 1913?
This age is typical for the street and neighbourhood. Buyers should budget for maintenance consistent with a 110+ year-old home, such as potential updates to wiring or plumbing, but can also appreciate the character and sturdy construction of the era.

3. How does the lack of a garage affect this property?
Given the above-average lot size, there is potential space for adding a garage or shed, subject to zoning. For the area, street parking is common, so this may not be a significant drawback for local buyers.

4. The home ranks "below average" citywide for value and year built. Is this a concern?
This reflects Winnipeg's diverse market, where established central neighbourhoods have different benchmarks than newer suburbs. For a buyer targeting this specific area, the more relevant fact is that it ranks above average compared to its immediate peers.

5. What can the 2017 sale price of a nearby home tell me?
The sale at 714 College Avenue ($195k-$225k range) provides a historical benchmark, but with 8+ years of market change and given that this subject property is significantly larger (1,482 sqft vs. 820 sqft), a direct comparison is limited. It primarily shows the area's historical affordability.