Property Overview: 393 Morley Avenue, Lord Roberts, Winnipeg

Key Characteristics & Appeal

This home at 393 Morley Avenue is a classic, early 20th-century residence built in 1913, situated on a standard city lot in the established Lord Roberts neighbourhood. Its key appeal lies in its position as a relatively affordable entry point into a mature community. With 1,136 sqft of living space, the house is modestly sized but sits comfortably within the average range for its immediate street and area, making it a practical and manageable footprint.

The most striking characteristic is its assessed value, which is notably below average for the street, neighbourhood, and city. This suggests a potential value opportunity, possibly reflecting the home’s age and condition, which may appeal to buyers comfortable with a renovation or maintenance project. The lot size, while smaller than the citywide average, is typical for the central area and offers standard outdoor space.

This property would best suit first-time buyers or practical investors looking for character in a long-established neighbourhood without a premium price tag. It’s for those who see potential in a home’s foundational location and proportions, rather than a move-in-ready finish. A thoughtful perspective is that its below-average assessment, while indicating work may be needed, also provides a corresponding buffer in property taxes compared to higher-valued homes in the same community.

Frequently Asked Questions

1. Why is the assessed value so much lower than the city average?
Assessed value is for municipal tax purposes and is influenced by factors like home size, age, condition, and recent sales in the area. A lower assessment often correlates with an older home that may require updates, but it also typically results in lower annual property taxes.

2. What does the sold price history (2023, CA$250k–300k) indicate?
The sold price range from 2023 provides a recent market benchmark. It shows the home transacted at a price point significantly below the citywide average home value, consistent with its character as an affordable, older property in a central neighbourhood.

3. Is the lot size a limitation?
At 2,504 sqft, the lot is smaller than the Winnipeg average but is standard for the central, older neighbourhood of Lord Roberts. It provides typical yard space for the area and may require less maintenance than a larger lot.

4. What should I consider about a home built in 1913?
Homes from this era often feature solid construction and classic layouts but may require updates to major systems like wiring, plumbing, or insulation. A thorough inspection is essential to understand the condition and any needed investments.

5. How does this home compare to others on Morley Avenue?
The data shows this home is around average for living area and lot size on its street but ranks below average for assessed value. This indicates it is proportionally similar in size to its neighbours but may be valued lower due to condition or specific features.