Property Summary: 586 Lipton Street, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home, built in 1912, offers a classic footprint with 1,247 sqft of living space and a detached garage. Its key appeal lies in its strong positional value within the established Daniel McIntyre neighbourhood. The data shows the home's assessed value ranks well above average for both the immediate street and the broader area, suggesting it is viewed as a solid asset in its local context. While the basement is noted as unrenovated, this presents a clear opportunity for future customization. The lot size is typical for the inner city, providing manageable outdoor space.
This property would suit a practical buyer looking for character in a mature neighbourhood, who values a home with proven value retention on its street. It's a candidate for someone comfortable with a project, as the basement offers potential for added living space or storage. The strong local ranking compared to city-wide averages makes it particularly interesting for buyers focused on specific community investment over sprawling suburban comparisons.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to the recent sale price?
The home was sold for $270,000 in July 2023, which is significantly higher than its current assessed value of $27,500. This large discrepancy is important to discuss with a real estate professional to understand current market valuation.
2. Is the living space size competitive for the area?
Yes. At 1,247 sqft, the living area is above the average for both Daniel McIntyre and for homes on Lipton Street itself, offering more interior space than many comparable local properties.
3. What should I know about the "unrenovated" basement?
The listing specifies the basement exists but is not renovated. Prospective buyers should budget for potential updates and are advised to investigate its condition, ceiling height, and suitability for their needs during a viewing.
4. How does the lot size impact the property?
The land area of 2,349 sqft is slightly below average for the Daniel McIntyre area. This means outdoor space is more compact, which can mean lower maintenance, but may limit expansion possibilities compared to larger lots.
5. The home is over 110 years old. What does that imply?
A 1912 build offers classic charm but warrants a thorough inspection. While its age is typical for the street and neighbourhood, attention should be paid to the condition of major systems like plumbing, electrical, and the foundation, which may require updates or maintenance.