Property Overview: 220 Goulet Street, Winnipeg
Key Characteristics & Appeal
This is a compact, no-frills property in Winnipeg's Central St. Boniface neighbourhood. Built in 1985, its 942 sqft living area and assessed value are consistently around the city-wide average, though they sit below the average for the immediate neighbourhood. The home has no basement, pool, or garage. Its appeal lies in its simplicity and location, offering a straightforward entry point into a well-established area. The sale history shows a significant jump in market price between 2020 and 2023, suggesting it has been updated or the market has shifted considerably.
It would best suit a pragmatic, first-time buyer or an investor looking for a manageable property in St. Boniface without the maintenance of older character homes or the premium of a larger modern build. A buyer’s priorities would be location over size, and they should be comfortable with a home that offers average city amenities in a slightly above-average neighbourhood context. The lack of a basement or garage means storage and vehicle parking will require creative solutions.
Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sale price?
Assessed values in Manitoba are for tax purposes and are based on mass appraisal techniques and older market data. The sale price reflects the actual, current market value determined by a buyer and seller, which can be influenced by recent renovations, market conditions, and specific demand for the area.
2. What does "below average for the neighbourhood" actually mean for living here?
For key metrics like living area and assessed value, this home ranks in the bottom 30% compared to similar properties in Central St. Boniface. In practice, you’re buying into the neighbourhood's amenities and community, but likely in one of its more modest, compact homes. This can be an advantage for lower property taxes.
3. There are multiple listings for "220 Goulet Street" (A-220, B-220, etc.). What is this?
This indicates the property is likely a condominium or townhouse style unit within a larger complex or series of buildings, sharing the same street address with unit letters for differentiation. It's important to review the condo/strata details for shared responsibilities and fees.
4. With no basement or garage, what are the storage and utility implications?
All living space, mechanical systems (furnace, water heater), and storage must be accommodated on the main footprint. This requires efficient use of space and means outdoor items like bicycles or seasonal tires will need a shed or alternative storage solution. Parking will be on-street or in a designated surface lot.
5. The home sold for $19,800 in 2020 and $210,000 in 2023. What explains this huge increase?
While the Winnipeg market saw appreciation in that period, an increase of this magnitude strongly suggests a significant renovation or full modernization occurred between those sales. Prospective buyers should inquire about the scope and permits for any work done during that time.