Property Overview: 227 Bertrand Street, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1910 on a modest lot in Central St. Boniface. Its key characteristics are its very small scale and notably low municipal assessed value. With only 626 square feet of living space, it is significantly smaller than most homes on its street, in the neighbourhood, and across Winnipeg. The land parcel is also among the smallest in comparison. A positive feature noted is a renovated basement.
The primary appeal lies in its position as an entry point into the historic and culturally rich St. Boniface area. This property is not about size or modern amenities, but about location and potential. It suits a very specific type of buyer: an investor looking for a land-value play, a builder considering a teardown and rebuild, or an extremely hands-on individual seeking the most affordable possible foothold in a desirable central neighbourhood with the vision to extensively renovate or expand. It represents an opportunity where the value is almost entirely in the land and location, not the existing structure.
Frequently Asked Questions
1. Why is the assessed value so much lower than the last sale price?
The 2022 sale price of $17,500 and the current assessed value of $15,900 are both exceptionally low, reflecting the property's status as a small, aged structure. The values are primarily for the land, not the building.
2. Is this a liveable home in its current state?
While it has a renovated basement, the 626 sq ft main floor living area is very small by modern standards. A buyer should budget for significant updates or be prepared for a minimalist lifestyle. It may be suitable as a cabin-like urban dwelling.
3. What are the possibilities for expanding or rebuilding?
Given the small lot size (1,328 sq ft), any expansion would require careful planning to comply with zoning bylaws regarding setbacks and lot coverage. A full rebuild to maximize the footprint is a common consideration for properties like this.
4. How does the small lot size impact future plans?
The lot is smaller than almost all comparable properties in the city. This limits options for adding features like a detached garage or extensive outdoor space, and makes efficient design crucial for any renovation or new build.
5. What is the neighbourhood context of this specific street?
The data shows that while this particular home is an outlier in size and value, Bertrand Street itself is a mix. Nearby properties vary in age and size, suggesting a street in transition, which can present both opportunity and a need for due diligence on future area developments.