Property Overview: 378 Gaboury Place, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1953 on a generously sized lot in Central St. Boniface. Its primary appeal lies in the combination of a large, 6,216 sqft property—which is well above average for the neighbourhood—and a recently renovated basement, offering potential for additional living space or rental income. The home features a detached garage and is situated on a quiet street.
The living space is modest at 941 sqft, making it one of the smaller homes on its street. This creates a specific dynamic: you're investing more in the land and location than in the size of the house itself. The assessed value is relatively low compared to the street, which may indicate an opportunity for a buyer willing to update the main living areas over time.
This property would best suit a pragmatic first-time buyer, an investor looking for a land-value play with rental potential from the basement, or someone seeking a lower-maintenance footprint in a sought-after neighbourhood without paying a premium for a large, modern house. It's for those who see potential in the lot size and renovation work already started, rather than a move-in-ready dream home.
Frequently Asked Questions
1. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify if it is a legal, permitted secondary suite. This is a crucial point to verify with the seller and the city, as it affects rental potential and insurance.
2. Why is the sale history from 2016 relevant?
The home sold for $27.8K in 2016, far below its current assessed value of $33.1K. This significant jump likely indicates a major improvement (like the basement renovation) or a previous non-arms-length sale. It’s important to understand what drove that change in value.
3. How does the small living area impact resale?
At 941 sqft, the main floor living space is below average for the area. This could appeal to a specific buyer seeking simplicity but may also limit the pool of future buyers compared to larger homes, even on similar lots.
4. What does the "below average" assessed value for the street mean?
While the assessed value is around average for Winnipeg, it's below average for Gaboury Place itself. This could suggest the home is less updated than its immediate neighbours, presenting a value opportunity or indicating needed investments.
5. Are there any concerns with a 1953-built home?
At over 70 years old, standard due diligence is essential. A thorough inspection should focus on the foundation, roof, plumbing, electrical systems, and the quality of the basement renovation to ensure it addresses moisture control and proper permits.