Property Overview: 65 Fermor Avenue

Key Characteristics & Appeal

This home presents a distinct value proposition centered on its land. The lot size of 5,174 sqft is a standout feature, ranking in the top 5% on its street and well above the neighborhood average. This offers significant outdoor space and potential not found in many comparable properties. The house itself, built in 1929, is older than most in Winnipeg, suggesting classic character but also a consideration for maintenance. With 929 sqft of living area, it is more compact than the city average, prioritizing a manageable interior footprint over square footage.

Its primary appeal lies in affordability and opportunity. The assessed value is notably below average at every level—street, neighborhood, and city—positioning it as an accessible entry point into the market. This property would suit a practical first-time buyer, an investor looking for a land-value play, or a hands-on owner willing to update an older home to modernize its value. The large lot is a canvas for gardening, expansion, or simply enjoying more private outdoor space than the neighbors.

Frequently Asked Questions

1. Why is the assessed value so much lower than the averages?
The assessed value reflects the property's current state as determined by the municipal assessor. The combination of a smaller, older home on a desirable lot typically results in a lower assessment, which can mean lower property taxes.

2. What does the older construction year (1929) mean for me?
Homes from this era often have solid construction and charm but may require updates to electrical, plumbing, or insulation systems. A thorough inspection is essential to understand the condition and any needed investments.

3. How can the lot be "Elite" for the street but only "Around Average" for the city?
Lot sizes in older, established neighborhoods like Varennes are often smaller than in newer suburban developments. This property's lot is exceptional for its immediate area, offering more space than its closest neighbors, even if newer subdivisions have larger lots overall.

4. Is the smaller living area a drawback?
It depends on your needs. The size offers lower utility costs and less maintenance, which can be a benefit. For a single person, couple, or small family, it can be efficient and cozy. The large lot also helps balance the smaller interior by providing expandable space.

5. What is the neighborhood like?
The rankings show the property is very typical for the Varennes neighborhood in terms of size and age, suggesting a consistent, established community. The below-average value on this street indicates it may be one of the more modest homes in the area, which can be an advantage for future improvement.