Property Overview
This 1925 one-storey home in Central St. Boniface is a property defined by its potential and location rather than its current footprint. With 638 sqft of living space and an unrenovated basement, the house itself is modest and requires modernization. Its key appeal lies in its substantial 2,962 sqft lot—a rarity in the area—and its position in the sought-after, culturally rich St. Boniface neighbourhood. The detached garage adds practical value. This home last sold in 2020 for $180,000, with a current assessed value significantly lower, suggesting a value proposition centred on the land.
Key Characteristics & Appeal
The primary draw is the lot size, which is considerably larger than many in the immediate area and city-wide. This presents a clear opportunity for expansion, a garden oasis, or future redevelopment, subject to zoning. The home suits buyers looking for an entry point into a desirable neighbourhood, willing to invest in renovations over time. It would also appeal to an investor or builder who sees value in the land asset. A less obvious perspective is its potential for a "right-sizing" buyer—someone seeking minimal indoor maintenance but wanting private outdoor space in a walkable, historic community. The very modest home size means renovation costs could be more contained and manageable as a phased project.
Frequently Asked Questions
1. Is this a teardown property?
While the existing home is small and dated, it is a functional structure. The decision to renovate or rebuild would depend on the buyer's goals, budget, and a review of local zoning regulations. The lot size certainly allows for the possibility of a new build.
2. What is the neighbourhood like?
Central St. Boniface is a historic, vibrant, and walkable francophone community. It offers unique shops, cafes, cultural attractions like the Festival du Voyageur, and excellent proximity to downtown Winnipeg.
3. Why is the assessed value so much lower than the last sale price?
Municipal assessed value for taxation purposes often lags behind market value and is calculated using a specific formula. The 2020 sale price is likely a better indicator of the property's market value, reflecting the premium for location and lot size.
4. What are the main renovation considerations?
The basement is noted as unrenovated, and a home of this age will likely require updates to electrical, plumbing, and insulation. A thorough inspection is essential to budget for these core systems before cosmetic improvements.
5. How does the lot size compare practically?
At just under 3,000 sqft, the lot is larger than many in the central city. This provides noticeable extra yard space compared to standard infill lots, allowing for a larger garden, patio, or parking area alongside the detached garage.