Property Overview: 769 Nottingham Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This 998 sqft bungalow, built in 1956, presents a classic Winnipeg opportunity centered on its land. The home itself is modest, with a living area that is typical for its immediate Munroe East neighborhood but below the city-wide average. Its assessed value is notably below average for the area, which can indicate a lower property tax burden but often suggests the home may require modernization.

The primary asset is the 6,209 sqft lot, which is exceptionally large for the street (ranking in the top 4%) and significantly above average for the wider neighborhood. This transforms the property from a simple post-war bungalow into a canvas with potential. The appeal lies in this balance of a manageable, affordable home on a generous piece of land. It last sold between $250k-$300k in 2020.

This property would suit a practical, value-oriented buyer. It's ideal for a first-time homeowner willing to update the interior over time, or an investor looking for a property with strong "value-add" potential through renovations or future development of the sizable lot. It also suits someone who prioritizes outdoor space for gardening, recreation, or adding a garage/workshop, which is rare to find at this price point in the city.

Section 2: Frequently Asked Questions

1. What does a below-average assessed value actually mean for me?
It typically results in lower municipal property taxes, which is a positive ongoing saving. However, it often reflects that the home's condition or finishes are dated compared to updated neighbors, so a thorough inspection is advised to budget for potential repairs or updates.

2. How significant is the large lot size in practical terms?
A lot in the top 4% on the street provides tangible benefits like greater privacy, space for additions (like a sunroom or large garage), and ample backyard potential. In the long term, it can also make the property more attractive for redevelopment, adding to its investment value.

3. The home is described as "around average" for the area in size. Is that a concern?
Not necessarily. At 998 sqft, it offers the essential spaces for a small family or couple. Its average size for Munroe East means it fits the community's character and that renovation costs (like new roofing or siding) will be in line with typical area quotes.

4. The home is 70 years old. What should I be most mindful of?
While the core structure of many 1950s homes is solid, key systems may be at or past their lifespan. Priority checks should include the foundation, roof, plumbing (original galvanized pipes), electrical wiring (ability to handle modern loads), and insulation standards.

5. How reliable are the sold price ranges shown, and why is the exact price not listed?
The ranges are derived from public data, which in Manitoba often reports sale prices in bands rather than exact figures. To protect seller privacy and ensure accuracy, the exact price requires a direct request. This is a standard practice for historical data in the province.