Property Overview: 485 Langevin Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, century-old two-storey home in Central St. Boniface, built in 1912. Its key characteristic is its modest scale: with 984 sqft of living space on a 2,396 sqft lot, it is notably smaller than most homes on its street and in the wider area. The basement exists but is unrenovated, and the property has no garage or pool.
The primary appeal lies in its location within a historic and vibrant neighbourhood, combined with a very low assessed value. This presents a clear opportunity for a specific buyer: someone seeking an affordable entry point into the St. Boniface market, willing to take on a project. It would suit a practical first-time buyer, an investor looking for a rental property with renovation potential, or someone interested in downsizing to a low-maintenance footprint in a walkable community. A less obvious perspective is that its smaller size and lot could mean lower utility and property tax burdens, aligning with a minimalist or efficiency-focused lifestyle. It’s not a move-in-ready home, but a foundation for customization.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the property's relatively small size, age, and unrenovated condition compared to the broader Winnipeg market, which includes many larger, newer, and updated homes.
2. What does the "below average" ranking for land area mean for me?
The lot is smaller than most in the vicinity. This limits expansive outdoor space but can mean less yard maintenance. The focus here is on the house and location rather than private land.
3. Is the 1912 build date a concern?
While the age indicates character, it also suggests that major systems (like plumbing, electrical, or the foundation) may need evaluation and potential updating. A thorough pre-purchase inspection is essential.
4. Who might this property not be suitable for?
It likely wouldn't suit a family needing substantial bedroom and living space, anyone seeking a turn-key home without renovation work, or buyers who prioritize a large private yard or garage parking.
5. The last sale was in 2019 for $18,900. What does that indicate?
This confirms the property has been positioned as an affordable, value-based listing for some time. It underscores its status as a project property and highlights the importance of understanding current market conditions and renovation costs versus potential future value.