Property Overview & Key Characteristics
This one-and-a-half storey home on Malone Street presents a classic Winnipeg character home opportunity. Built in 1934, its primary appeal lies in its substantial, mature lot—over 11,900 square feet—which ranks in the top tier for size both on its street and citywide. The home itself, at 972 sqft, offers a compact footprint with room to grow, featuring a detached garage and an unrenovated basement.
Its appeal is multifaceted. For the value-focused buyer, it sits on a lot size rarely found in newer developments, offering exceptional outdoor potential. For the visionary, the unrenovated spaces and classic layout provide a blank canvas for customization. The recent sale history indicates steady demand in the area.
This property would best suit a hands-on buyer looking for a long-term project, whether that's updating the home to modern standards while preserving its character or maximizing the generous lot. It's also a strong candidate for an investor or builder who sees the underlying value in the land itself, given that the assessed value is significantly focused on the property rather than the current structure.
Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sale prices?
This is common for older homes with significant land value. The assessment often reflects the current state of the structure. The recent sale prices (around $250k-$260k) capture the market value, which includes the premium for the large lot and the home's potential.
2. What does "top 0%" for year built on its street mean?
This statistical ranking means that, on Malone Street, this 1934 home is the oldest among the listed comparable properties. This isn't inherently negative but highlights its character-home status and suggests that maintenance and systems updates may be a consideration.
3. Is the unrenovated basement a major concern?
It represents both a project and an opportunity. While it will likely need attention for moisture protection, insulation, and finishing, it also offers significant potential to add liveable space and increase the home's overall utility and value.
4. Who would this property not suit well?
It would likely not suit a buyer seeking a move-in-ready, modern home with no immediate projects. The smaller living area and need for updates require a buyer comfortable with a renovation timeline and budget.
5. How significant is the lot size practically?
At nearly a quarter-acre, it's exceptionally large for the city. This allows for possibilities that are now uncommon: extensive gardens, recreational space, potential for additions like a workshop or studio, or simply a high degree of privacy from neighbours.