Property Overview
This well-established one-storey home on a generous 5,181 sqft lot in Winnipeg's Booth neighbourhood presents a solid, move-in-ready opportunity. Its appeal lies in a combination of practical updates, a desirable lot size, and a history of stable value in a mature community. The home suits first-time buyers seeking a manageable footprint with a renovated basement for extra space, or downsizers looking for a single-level layout without sacrificing outdoor room. Investors may also note its consistent rental history and the lot's inherent redevelopment potential for the future.
Key Characteristics & Ideal Buyer
The home's primary features are its fully renovated basement and detached garage, offering immediate functionality and extra storage or workshop space. The lot is a significant asset, ranking in the top 15% for size on its street, providing ample private outdoor space uncommon in many older neighbourhoods. Value-wise, the property demonstrates resilience; it sold for $400k in 2021 and $425k in 2023, with a current assessed value of $390k, suggesting a market-tested price point. Its appeal is grounded in practicality rather than luxury—it's a home that has been maintained and updated for living, not just flipped.
Thoughtful perspectives include recognizing the advantage of a mature streetscape with similar, well-kept homes, which contributes to neighbourhood stability. Additionally, while the living area is average for the area, the large lot offers a valuable "land bank" component, a long-term asset that can appreciate independently of the structure itself. This property would suit pragmatic buyers who value space over flash, appreciate the character of an older neighbourhood, and see the wisdom in a home that has already undergone major renovations like the basement, allowing them to avoid immediate large projects.
Frequently Asked Questions
1. How does the recent sale history inform the current value?
The home sold for $425,000 in August 2023, which is notably above the current $390,000 assessment. This suggests the assessed value may lag behind recent market activity, and the last sale price is a critical benchmark for understanding its true market worth.
2. What does the lot size ranking actually mean for me?
Ranking in the top 15% for lot size on Aldine Street means this property has one of the larger parcels on the block. This translates to more privacy, yard space, gardening potential, and future flexibility than most of its immediate neighbours.
3. Is the neighbourhood actively changing?
Sales data shows consistent transaction activity on the street and in Booth, with property values holding firm. The presence of several nearby homes with similar assessed values indicates a stable, in-demand area without wild value fluctuations.
4. What are the implications of a detached garage?
A detached garage provides excellent storage, workshop potential, and reduces noise from vehicles entering/exiting the living space. The trade-off is convenience during harsh Winnipeg winters, requiring a walk from the garage to the house.
5. Who might this property not be suited for?
It may not suit buyers seeking a modern, open-concept layout or extensive high-end finishes, as it is a classic one-storey from 1960. Those prioritizing a brand-new home or an attached garage for maximum convenience might also want to look elsewhere.