Property Overview: 102 Stradford Street, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated bi-level home at 102 Stradford Street in the Buchanan neighbourhood presents a practical and value-conscious opportunity. Built in 1975, its key features include a renovated basement and a detached garage on a standard 5,250 sqft lot. With 924 sqft of living space, the home offers a more compact and efficient layout compared to many area averages.
The primary appeal lies in its solid positioning within the market. The property is consistently "around average" for assessed value and sale price both locally and citywide, suggesting a fair and stable investment without premium pricing. Its recent sale in July 2024 for $380k indicates strong current market acceptance. The renovated basement adds immediate functional space without the need for initial projects. This home would suit first-time buyers seeking an entry point into a established neighbourhood, or pragmatic investors looking for a manageable property with proven rental demand in Buchanan. A thoughtful perspective is that its slightly smaller living area and average lot size translate to lower maintenance costs and utility bills, offering affordability beyond just the purchase price.
Section 2: Frequently Asked Questions
1. How does this property compare in size to others nearby?
The living area is compact at 924 sqft, which is below the average for both the Buchanan neighbourhood and Winnipeg overall. This makes for a efficient, lower-maintenance home.
2. Has the property value increased?
Yes. The home sold for $310k in July 2016 and $380k in July 2024, demonstrating appreciable value growth over an eight-year period.
3. Is the lot size a pro or a con?
The 5,250 sqft lot is very standard for the street and area. It provides adequate outdoor space without the extensive upkeep of a larger yard, which can be a benefit for busy homeowners.
4. What does "around average" for assessed value mean?
The home's citywide assessed value of $330k ranks near the middle of the market. This typically indicates a property that is not over-assessed, which can be advantageous for property taxes, and is priced accessibly without being an outlier.
5. The home is 51 years old. What should I consider?
While the basement has been renovated, the core structure and major systems (like roof, plumbing, and electrical) are of an age where diligent inspection is recommended to understand their condition and plan for potential future updates.