146 Polson Avenue

Property Overview

This two-storey home on Polson Avenue in Winnipeg's Luxton neighbourhood presents a classic character property with solid fundamentals. Built in 1909, it sits on a generously sized 3,043 sqft lot, which ranks within the top 13% for land area city-wide—a significant asset. The house itself offers 1,242 sqft of living space with a detached garage and a basement that is present but not renovated. Its recent sale in April 2024 at $20,200k aligns closely with its current assessed value.

The appeal here lies in its established location and the potential inherent in its large lot and classic structure. It ranks highly for lot size within Winnipeg and for the age of the home on its street, suggesting it is among the more substantial and historically rooted properties in the immediate area. This home would suit a buyer comfortable with a property that has a lived-in history, possibly a hands-on individual or investor who sees value in the lot size and the character of an older home, and who is prepared for the maintenance or gradual updates that come with it. It’s a practical entry into a neighbourhood where the land itself is a key part of the value proposition.

Key Questions & Considerations

1. What does the "not renovated" basement condition typically imply?
It usually indicates a functional but dated space, likely with original or older finishes, mechanical systems, and possibly moisture concerns common to homes of this era. It should be viewed as usable storage or utility space with clear potential for future improvement, subject to inspection.

2. The home sold very recently (April 2024). Why might it be back on the market?
This isn't uncommon and doesn't necessarily reflect the property itself. Reasons can range from a buyer's changed personal circumstances to a quick resale by an investor. It does, however, provide a very recent and transparent market price point for comparison.

3. How significant is the large lot size?
Very. In established neighbourhoods, land is the appreciating asset. A lot in the top 13% city-wide for size offers more outdoor space, better potential for additions or landscaping, and future redevelopment options compared to neighbouring properties, which is a long-term advantage.

4. The assessed value is notably lower than some comparable listings shown. What does that mean?
Assessed value is for municipal tax purposes and often lags behind market value. The recent sale price is a more accurate reflection of its current market worth. The lower assessment can actually be a benefit, resulting in relatively lower property taxes compared to similar-sized homes with higher assessments.

5. What is less obvious about the appeal of a 117-year-old home?
Beyond character, a home from 1909 often features build quality and materials (like old-growth timber) not found today. Its high rank for age on the street means it's a cornerstone property, contributing to the area's historic streetscape. The trade-off is a greater need for specialized maintenance and updates to insulation, wiring, and plumbing.