Property Overview: 554 De La Morenie Street
Section 1: Key Characteristics & Appeal
This is a classic one-storey home in Central St. Boniface, built in 1925. Its key characteristics include a detached garage and a full basement that is noted as not being renovated. With 1,072 sqft of living space on a 3,910 sqft lot, the home offers a comfortable footprint that is very typical for its historic neighbourhood, neither notably large nor small compared to immediate peers.
The primary appeal lies in its location and land value within a sought-after area. The lot size is above average for Winnipeg overall, suggesting room for outdoor living or potential expansion in a mature, established community. The home presents as a solid, no-frills opportunity. It suits buyers looking for an entry point into St. Boniface, value-conscious renovators who see potential in the existing structure and basement, or investors interested in the long-term value of a well-located property. Its below-average assessed value relative to the area indicates it may be priced accessibly, but likely reflects its age and condition, appealing to those comfortable with a property that requires updates.
Section 2: Frequently Asked Questions
1. What does "basement, not renovated" typically mean?
It indicates the basement is unfinished or largely in its original state. Buyers should budget for potential updates to insulation, flooring, and finishes, and consider a thorough inspection for moisture management and foundational integrity common in century-old homes.
2. How does the lot size compare practically?
At 3,910 sqft, the lot is larger than over 75% of city properties, but is average for St. Boniface. This means ample backyard space for the area, but not an unusually large or sub-dividable parcel.
3. The home sold for $27,300 in 2021 but is now assessed at $270,000. Why the large difference?
The 2021 sale price is exceptionally low and not reflective of current market value. It may have been a non-arms-length transaction (e.g., between family members) or sold with significant conditions. The current assessed value is the relevant figure for municipal taxes and is a better, though not exact, indicator of its market valuation.
4. Who might this property not suit?
It may not suit those seeking a move-in-ready home without renovation projects, or buyers who prioritize modern amenities and open-concept layouts typically found in newer builds.
5. What are the less obvious considerations for a 1925 home?
Consider the charm and solid construction of the era against the need to inspect and potentially update older electrical, plumbing, and windows. Also, research if the home is in a heritage conservation district, which could affect exterior renovation plans. The "average" metrics in the neighbourhood suggest you are buying a very characteristic St. Boniface property, not an outlier.