Property Overview: 535 Langevin Street, Winnipeg
Key Characteristics & Appeal
This two-storey home, built in 1922, is situated in Central St. Boniface. Its primary appeal lies in offering above-average interior living space (1,624 sq ft) within a character neighbourhood, while presenting as a value-conscious opportunity. The home features a detached garage and a full, unrenovated basement. The lot, while smaller than many in the area at 3,317 sq ft, is typical for the street and requires less maintenance.
The property suits practical buyers looking for a character-home footprint without a premium price tag. It’s ideal for those comfortable with a home that may require updates, as the basement and other areas are not renovated. The below-average assessed value and recent sale price suggest it represents an accessible entry point into the neighbourhood. A thoughtful perspective is that the smaller lot and unrenovated state could be seen as advantages: they lower the initial investment and ongoing upkeep, while leaving room for a buyer to add value according to their own taste and budget over time.
Frequently Asked Questions
1. Is the smaller lot size a significant drawback?
Not necessarily. While the land area is below the neighbourhood average, it is very typical for Langevin Street itself. This often translates to less yard work and lower property taxes, which can be a practical benefit.
2. What does "basement, not renovated" imply?
It means the basement is in functional, original condition. It offers space and potential, but will likely require investment for finishing, moisture-proofing, or modernization to suit modern expectations for living or recreational space.
3. The home sold recently in 2023. Why is it back on the market?
The provided data does not specify the reason. It could be due to many common life changes (relocation, upsizing) and does not inherently indicate a problem with the property. A buyer's agent can inquire about the specific circumstances.
4. How does the assessed value relate to the sale price?
The assessed value for tax purposes ($28.2k) is much lower than the market sale price ($220k). This is normal; assessed value is not an appraisal. The sale price is determined by the market and reflects what a buyer was willing to pay for the home and location.
5. Who would this home not suit?
It may not suit buyers seeking a move-in-ready, fully modernized home or those desiring a large, expansive yard. It’s also less suited for investors or buyers looking for a property with immediate, high-end rental appeal, given the unfinished spaces.