Property Overview: 363 Youville Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a modest, one-storey home built in 1946 on a generously sized lot in Central St. Boniface. Its primary appeal lies in its location and land value rather than the current dwelling. The house itself is quite small at 658 sq ft, ranking well below average in living area for the street, neighbourhood, and city. It has a basement, but it is not renovated, and there is no garage or pool.
The property’s strongest asset is its 4,524 sq ft lot, which is solidly average-to-above-average for the historic and centrally located St. Boniface area. This presents a clear opportunity: the value here is fundamentally in the land. The home’s very low assessed and recent sale value reflects its condition and size, making it an accessible entry point into a desirable neighbourhood.
This property would best suit a specific type of buyer: an investor, builder, or handy individual looking for a land play or a foundational project. It’s a candidate for a significant renovation, expansion, or eventual rebuild. It is not suited for someone seeking a move-in-ready or spacious family home without a major investment in construction.
Section 2: Frequently Asked Questions
1. Why is the sale price so much lower than typical Winnipeg homes?
The price reflects the current state and size of the dwelling itself. You are primarily purchasing the land in a established neighbourhood, with the existing house holding minimal value.
2. Is the basement finished or usable for living space?
No. The listing explicitly states the basement exists but is "not renovated." It should be considered raw, undeveloped space requiring significant work to be habitable.
3. What are the possibilities for expanding or rebuilding?
The lot size is favourable for this. A buyer should investigate City of Winnipeg zoning bylaws (R1, R2, etc.) for this specific address to understand permissible building footprints, height restrictions, and the potential for adding a second storey or an addition.
4. How does the age of the home (1946) affect things?
While the building is older than many on its street, it is actually newer than the average for St. Boniface. However, its age means crucial systems (roof, wiring, plumbing, insulation) are likely original or very dated and will require inspection and probable upgrading.
5. The assessed value is very low. Will my property taxes be too?
Generally, yes. Property taxes are based on the assessed value, so they would start from a low base. However, any significant renovation or new construction that increases the property’s value will result in a corresponding tax increase upon reassessment.