393 College Avenue

Property Overview: 393 College Avenue, Winnipeg

Key Characteristics & Appeal

This is a substantial, character-filled home built in 1907, offering generous space on a large lot in the St. John's neighbourhood. Its key appeal lies in the combination of historic charm and significant interior space that stands out in its area. With 2,492 sqft of living area, it ranks in the top 2% of homes on its street and in the neighbourhood, making it a notably larger property compared to most nearby options. The home sits on a 5,060 sqft lot and features a renovated basement.

Its recent sale history shows steady value appreciation, and its current assessed value is modest relative to its sheer size. This creates a unique proposition: a high square-footage home at a value-oriented price point. The property would suit a buyer looking for a project-ready character home with "good bones," or an investor or large household seeking maximum interior space per dollar. It's ideal for those who prioritize room to grow or renovate over modern finishes, and who appreciate the established, tree-lined feel of an older Winnipeg neighbourhood.

Frequently Asked Questions

1. What does "TWO & 1/2 STOREY" building type mean?
This typically describes a home with two full floors of living space, plus a third floor (often under a sloped roof) that has smaller rooms or finished attic space, contributing to the total square footage.

2. The assessed value seems low for such a large house. Why is that?
Municipal assessed value is for taxation purposes and often lags behind market value. It's influenced by formulas, recent sales in the area, and may not fully capture the premium for a home that is significantly larger than its neighbours. The recent sale price is a more current indicator of market value.

3. Is the renovated basement a legal suite?
The listing states the basement is renovated but does not specify it as a legal secondary suite. Buyers should verify its compliance with local zoning and building codes if considering rental income.

4. The home is 119 years old. What should I be prepared for?
While offering charm and solid construction, a home of this age will likely require ongoing maintenance and updates to systems like plumbing, electrical, and insulation. The renovated basement is a plus, but the main living areas may need modernization.

5. How does the lack of a garage affect daily life and value?
For this neighbourhood and era of home, the lack of a garage is common. It means relying on street parking, which requires consideration for winter parking bans. This can be a trade-off for the lot size and home scale, but it's a practical factor for vehicle owners.