Property Overview: 373 Youville Street, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1937 on a 3,540 sqft lot in Central St. Boniface. Its key characteristics are defined by contrast: the living space is modest at 684 sqft, ranking it among the smaller homes in the area, but it sits on a lot that is notably larger than many city-wide averages. The home has a basement, but it is not renovated, and there is no garage or pool.
The primary appeal lies in its location and land value within a historic and sought-after neighbourhood. For a buyer, the opportunity is less about the current structure and more about the potential of the property itself. It suits a specific type of buyer: someone looking for an entry point into St. Boniface, potentially a land-value play for a future rebuild or significant expansion, or an investor seeking a rental property with redevelopment upside. It is not a move-in-ready home for a family needing ample, modern space. The thoughtful perspective here is to see the property as a canvas—its value is anchored more in its address and lot size than in its current assessed value or interior square footage.
Frequently Asked Questions
1. Why is the assessed value so much lower than the last sale price?
The assessed value is for municipal tax purposes and often lags behind market value, especially in active markets. The 2021 sale price of $170k is a more current indicator of what buyers were willing to pay for this property's location and potential.
2. Is the basement finished or usable?
The listing specifies the basement exists but is "not renovated." Buyers should anticipate it being in a rough, unfinished state suitable for storage or utilities, not living space, without significant investment.
3. What does the lot size mean for future potential?
At 3,540 sqft, the lot is a key asset. It is substantially larger than the average Winnipeg lot, providing valuable outdoor space and, importantly, greater flexibility for future additions, a garden suite, or even a full rebuild, subject to zoning.
4. How does the living area compare to a typical home?
At 684 sqft, the home is significantly smaller than most in the neighbourhood and city. This indicates a cozy, efficient layout likely consisting of essential rooms only, such as 1-2 bedrooms and one bathroom.
5. What is the significance of the ranking data provided?
The rankings show how this property compares to others. For example, it ranks in the bottom 10% for living area on its street but in the top 22% for land size in the neighbourhood. This quantifies the trade-off: you are purchasing a below-average house on an above-average lot for the local area.