Property Overview

This 1907 two-and-a-half storey home in the McMillan neighbourhood offers a blend of historic character and practical space. Its primary appeal lies in its generous proportions, with a living area of over 2,700 sqft on a near 2,500 sqft lot, placing it in the top tier for size both locally and city-wide. The home presents a classic renovation opportunity, featuring an unrenovated basement and no garage. Its assessed value is notably modest for its scale and location, suggesting a property where the value is in the structure and land rather than recent updates. This would suit a buyer looking for a character home with room to grow, who is prepared to invest in updates over time. It’s a practical entry into a well-established neighbourhood for those valuing space and potential over turn-key finishes, or an investor recognizing the long-term value of a large lot in a central area.

Frequently Asked Questions

What does the "top percentage" ranking mean for this property?
These rankings compare this specific property against others on its street, in McMillan, and across Winnipeg. For example, its land area is in the top 4% city-wide, meaning it's larger than 96% of Winnipeg lots, which is a significant advantage. Conversely, its year-built rank shows it's older than most in the city but newer than most on its own street.

Is the low assessed value a concern?
Not necessarily. A lower assessed value relative to the home's physical size and lot can indicate two things: the official valuation is based heavily on recent sales and may not fully capture the potential of the property, and/or the interior condition and lack of updates keep the taxable value down. It often represents a key opportunity for equity growth through renovation.

What can be inferred from the unrenovated basement?
This confirms the home needs modernization and presents both a project and a blank slate. Buyers should budget for potential foundational repairs, moisture management, and finishing. However, it also means there are no poorly executed renovations to undo, allowing for a fresh, customized development of the additional space.

How does this property compare to the nearby listings shown?
The comparison properties highlight McMillan's diversity. This home is larger in living area than most listed, but has a lower assessed value than many, reinforcing its status as a "fixer-upper" on a valuable lot. It's notably older than the 1980s builds listed but is a direct contemporary of the character homes on Wellington Crescent, albeit at a different price point.

Who is the typical buyer for a home like this?
The ideal buyer is value-conscious and sees potential. This could be a handy homeowner willing to tackle projects gradually, a small developer or investor attracted by the lot size and central location for a future hold or renovation, or a family needing maximum space upfront and willing to trade immediate modern finishes for long-term equity building.