363 Aldine Street

Property Overview: 363 Aldine Street

Key Characteristics & Appeal

This is a well-maintained, two-storey home built in 1961, situated on a generously sized lot of over 5,600 square feet in Winnipeg's Booth neighbourhood. Its primary appeal lies in a balance of established character and practical updates, notably a renovated basement that adds valuable finished space to the 1,250 sqft main living area. The property does not have a garage or pool, positioning it as a straightforward, low-maintenance housing option.

The home’s strength is its solid positioning within its immediate context. It sits on a lot larger than 82% of others on its street, offering above-average outdoor space for the area. Recent sale history shows steady value appreciation, with a sale in August 2024 at $320,000, following a previous sale at $260,000 in 2017. This trajectory, combined with an assessed value significantly lower than recent sale prices, suggests the market recognizes substantial value beyond the official tax assessment.

This property would suit first-time buyers or practical downsizers looking for an entry into a stable neighbourhood without the premium for a brand-new home. It’s ideal for someone who values a larger yard over attached parking and appreciates a home where foundational updates like the basement are already addressed, allowing them to personalize other aspects over time.

Frequently Asked Questions

1. How does the lot size compare to typical properties in Winnipeg?
At 5,685 sqft, the lot is larger than 61% of all properties in Winnipeg, which is a significant advantage for outdoor space, gardening, or future expansion compared to many newer, denser subdivisions.

2. The assessed value is much lower than the recent sale price. Why?
Municipal assessed values for tax purposes often lag behind current market conditions. The consistent increase in actual sale prices (from $260k in 2017 to $320k in 2024) is a stronger indicator of the property's market value and the neighbourhood's demand.

3. What does the "renovated basement" typically imply for a home of this age?
In a 1961 home, a renovated basement often means updated finishes, improved moisture control, and the conversion to livable space (e.g., a rec room, office, or additional bedroom). It’s a key update that adds functional square footage and modern comfort.

4. Who might the lack of a garage deter, and how is that mitigated?
It may deter buyers with multiple vehicles or those needing workshop storage. However, the large lot provides ample space for adding a shed or future garage, and on-street parking is typical in such established neighbourhoods.

5. The home ranks in the top 21% for lot size but only the top 57% for year built on its street. What does this indicate?
This highlights a key trade-off: you are purchasing a larger-than-average parcel of land in the area, but the house itself is older than many on the block. The appeal hinges on valuing land size and potential over having a newer structure.