5-552 De La Morenie Street

Property Overview

This is a compact, 560 sqft property built in 1959, located at 5-552 De La Morenie Street in Winnipeg's Central St. Boniface neighbourhood. It last sold in October 2019 for $140,000. The home has no basement, pool, or garage. Its key metrics show it is very typical for its immediate street but is a smaller, more modestly valued option compared to most homes in the wider neighbourhood and city.

Section 1: Key Characteristics & Appeal

• Key Characteristics: This is a modest, no-frills property. At 560 sqft, it offers essential living space. Its assessed value ($13,800) and recent sale price are significantly below neighbourhood and city averages, indicating a straightforward, budget-conscious entry point. The lack of a basement or garage simplifies the property, focusing on the main-floor living area.
• Where Its Appeal Lies: The primary appeal is affordability and location within St. Boniface. It represents one of the most accessible price points in the area. For the right buyer, its smaller size and simpler structure mean lower maintenance costs, utility bills, and property taxes. Its ranking as average on its own street suggests it fits neatly into that specific, likely character-filled, local streetscape.
• Ideal Buyer Profile: This property would suit a first-time homebuyer, an investor looking for a compact rental, or someone seeking a minimalist, low-overhead lifestyle. It’s less suited for those needing space for a family, storage, or who desire extensive amenities. A buyer’s vision might see potential in a thoughtful renovation to maximize the efficient use of its compact footprint.

Section 2: Frequently Asked Questions

• What does "no basement" mean for storage and utilities?
  All living space and mechanical systems (like the furnace and water heater) are on the main floor. This can be an advantage for accessibility but requires creative solutions for storage and means utility noise will be present in the living area.

• The assessed value is much lower than the sale price. Why?
  Municipal assessed value for taxation purposes often lags behind market value. The 2019 sale price of $140,000 is what a buyer actually paid, reflecting market conditions, while the $13,800 assessment is an older valuation formula used for calculating property taxes.

• Is this a standalone house or part of a multi-unit building?
  The addressing ("5-552") and the list of nearby properties (e.g., 1-552, 2-552) strongly suggest this is one unit within a multi-suite building, such as a duplex or fourplex, not a detached single-family home.

• How does its size compare practically?
  At 560 sqft, the living area is similar to a spacious one-bedroom or a compact two-bedroom apartment. Efficient layout and design are crucial for comfortable living in this square footage.

• What does being "below average" for the neighbourhood mean?
  While in the desirable St. Boniface area, this specific property is among the smallest and most modestly valued in that local market. This translates to a lower cost of entry into the neighbourhood but also means it may not appreciate at the same rate as larger, more updated homes nearby.