Property Overview & Key Characteristics

This one-and-a-half storey home on a spacious, nearly 5,000 sqft lot in St. George presents a classic Winnipeg opportunity. Built in 1948, its key appeal lies in its established neighbourhood setting and the value represented by its lot size and assessed value relative to the area. With 1,062 sqft of living space, a detached garage, and an unrenovated basement, it is a property with clear potential rather than move-in-ready perfection.

Its primary appeal is for the value-conscious buyer or an investor looking for a solid foundation in a mature neighbourhood. The lot size ranks highly for the street, offering room for gardens, play, or future expansion. The home’s assessed value places it in the top tiers for the street and neighbourhood, suggesting it may be positioned below the area's peak prices, which is attractive for those seeking an entry point. This property would suit a handy buyer ready to take on gradual updates, or an investor considering the long-term value of land in a well-ranked area of Winnipeg. It’s less suited for those seeking modern finishes or a turnkey solution without project work.

Frequently Asked Questions

1. What does "unrenovated basement" typically imply?
It usually means the basement is in its original or functional state, possibly with older finishes, concrete floors, and dated utilities. It offers a blank canvas for future development but will require investment to modernize.

2. The home sold in 2021. What might that indicate?
A sale three years prior could suggest the current owners have undertaken some improvements, or it may indicate a shorter-term hold. Reviewing any available listing history from that sale would provide useful context on what may have changed.

3. How significant is the lot size ranking?
Ranking in the top third for lot size on Portland Avenue is a meaningful advantage. In established neighbourhoods, larger lots are a finite resource and contribute significantly to property value, offering more privacy and flexibility than smaller, standard plots.

4. The assessed value seems low. Is that a concern?
Not necessarily. Municipal assessed value for taxation purposes often lags behind market value. Its ranking—in the top 10% on the street but lower city-wide—suggests the home is appropriately assessed for its specific, mature neighbourhood context rather than the broader hot market.

5. Who are the typical buyers in this area?
St. George attracts a mix of long-term residents, families drawn to stable communities, and practical buyers who value character homes with room to grow over brand-new construction. The presence of both older homes and new builds (like those on Lennox Ave) indicates a neighbourhood in gentle evolution.