Property Overview

This 1930-built home at 51 Varennes Avenue presents a distinct profile centered on value and potential. Its 616 sqft living space is notably compact, ranking it well below average for the street, neighborhood, and wider Winnipeg. This fundamental characteristic defines its appeal: it is a lower-priced entry point into the market. The assessed value for taxes is notably below the city average, suggesting relatively affordable ongoing property taxes. The lot size of 4,295 sqft is above average for Varennes Avenue, offering valuable outdoor space that contrasts with the modest interior.

The property suits first-time buyers, investors, or downsizers seeking a footprint with manageable upkeep and taxes. Its appeal lies in the land value and the opportunity to renovate or expand the existing structure over time. A thoughtful perspective is that this home represents a "land play with a house included." For the right buyer, its below-average metrics are not drawbacks but the source of its affordability and potential. It's a practical choice for those prioritizing location and lot size over immediate move-in square footage, viewing the existing home as a foundation for future investment.

Frequently Asked Questions

1. The living space seems small. How does this impact livability?
At 616 sqft, the home requires efficient use of space and is likely best for one or two people. The floor plan and potential for future expansion (subject to permits) would be key considerations to assess its long-term functionality.

2. The assessed value is lower than city averages. What does this mean for me?
A lower assessment typically translates to lower municipal property taxes, which is a recurring cost saving. It's important to note that assessed value is not market value; the sale price is determined by current market conditions.

3. The house was built in 1930. Should I be concerned about maintenance?
As with any home of this age, a thorough inspection is essential. While there may be charm and solid construction, potential buyers should budget for updates to older systems like wiring, plumbing, or insulation to meet modern standards and efficiency.

4. The lot size is good for the street. What are the possibilities?
The above-average lot for the avenue is a significant asset. It provides generous yard space and may offer future potential for additions, a garden, or outdoor living areas, which adds value not reflected in the current living area.

5. How do the rankings and percentages work?
They show how this property compares to others in specific areas. For example, its living area is in the top 100% on its street (i.e., it is the smallest), meaning it ranks 28th out of 28 comparable properties. These stats help contextualize its size, value, and age relative to immediate and broader markets.