Property Overview: 536 Langevin Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-three-quarter storey home, built in 1905, presents a unique opportunity in Central St. Boniface. Its key characteristic is its modest scale, with approximately 1,004 sqft of living space on a 3,191 sqft lot—figures that are below the averages for both the immediate street and the wider city. This positions the property not as a sprawling family home, but as a efficient, manageable footprint. A recently renovated basement and a detached garage add practical value.
The appeal lies in its location within a historic neighbourhood and its potential as a strategic entry point into the market. With an assessed value significantly below the citywide average for homes, it suits buyers with a specific vision: first-time homeowners comfortable with a cozy layout, investors seeking a rental property with character, or downsizers looking for a low-maintenance base in a walkable, established community. It’s a property for those who value location and practicality over sheer size, and who see the charm and potential in a well-situated, century-old home.
Section 2: Frequently Asked Questions
1. Is the low assessed value a concern?
Not necessarily. The assessed value is around average for the Central St. Boniface neighbourhood itself. Its value is low in a citywide context because it reflects the home’s modest size and age compared to the broader Winnipeg market, which includes many newer, larger suburban homes.
2. What does "below average" for land and living area mean practically?
It confirms this is a compact property. The lot is smaller than most on the street and in the area, meaning less yard maintenance. The living space is efficient, suitable for one or two people comfortably, but may feel tight for a larger family.
3. The home is 121 years old. What should I consider?
While the renovated basement is a positive update, the core structure is from 1905. A thorough inspection is essential to understand the condition of major aged components like the foundation, plumbing, electrical systems, and the original house structure, which may not be reflected in the assessment.
4. How stable is the property’s value based on its history?
The home sold for $34.5k in 2023 and $29.1k in 2019, showing appreciation. This suggests a stable, if modest, market for such properties in this area. It indicates a market niche less susceptible to the dramatic swings that can affect higher-priced segments.
5. Who are the most likely neighbours or competing buyers?
Given the scale and value, likely competition could come from practical first-time buyers, local investors familiar with the rental market for smaller homes in St. Boniface, or perhaps someone looking for a character-filled project home without the burden of a massive lot or structure.