Property Overview: 39 Fermor Avenue

Key Characteristics & Appeal

This home presents a practical opportunity in Winnipeg's Varennes neighborhood. Its key appeal lies in offering solid value and space relative to its assessed price point. With 1,180 sqft of living area on a notably generous 5,173 sqft lot, it provides more room than many homes in its immediate area and wider neighborhood. Built in 1924, it is a character home from an earlier era, which is reflected in its below-average citywide assessment value of $299k—significantly lower than the Winnipeg average.

The property suits value-conscious buyers looking for a larger lot with established character, potentially including first-time homeowners or those seeking a project-investment hybrid. Its appeal is grounded in its neighborhood standing: while its value and age rank below average citywide, its lot size and living space are above average for the Varennes area. This suggests you are acquiring more physical space for your dollar here than in most of Winnipeg, albeit in an older home that may require updates. A thoughtful perspective is that this property represents a trade-off: you accept an older home with a lower assessed value in exchange for a more substantial piece of land and better relative space within a desirable local context.

Frequently Asked Questions

1. Is this a good value for the money?
Based on the assessment data, the home is priced below the citywide average. You are primarily paying for land and location within Varennes, with the house itself contributing less to the assessed value due to its age.

2. What does the 1924 build date mean for me?
It indicates a character home likely with older building materials and systems. This can mean charm and solid construction, but also a higher likelihood of needed updates to plumbing, wiring, or windows compared to a newer build. It ranks as one of the older homes on its street.

3. How does the lot size compare?
The lot is a standout feature. At over 5,000 sqft, it is larger than the average lot on Fermor Avenue and in the Varennes neighborhood, offering more outdoor space than many comparable properties.

4. Why is the assessed value lower than the city average?
The lower assessment is strongly tied to the home's age and the fact that average citywide values are pulled higher by newer, larger suburban homes. In its own neighborhood and street context, its value is around average.

5. Who would this property suit best?
It would suit a buyer who prioritizes lot size and neighborhood over a modern, turn-key home. It’s a potential opportunity for someone comfortable with a renovation project or who values the character of an older home, all while staying below the average Winnipeg price point.