Property Overview: 717 Arlington Street, Winnipeg
Key Characteristics & Appeal
This one-and-three-quarter storey home on Arlington Street is a classic Winnipeg character property, built in 1905. With 1,103 sqft of living space, it sits on a 2,515 sqft lot and features a detached garage and an unfinished basement. Its assessed value is notably low compared to city-wide averages, which often indicates a lower property tax burden but also suggests the home may require modernization.
The primary appeal lies in its position as an affordable entry point into the Daniel McIntyre neighbourhood, a central and established community. The home’s living area is quite typical for the local area, offering a practical footprint. It would best suit a hands-on buyer looking for a character home project, an investor seeking a rental property with a stable baseline, or a first-time purchaser prioritizing location and lot ownership over move-in-ready condition. A thoughtful perspective is that its very low assessment relative to recent sale prices on the street (e.g., $160k in 2019) could signal significant upside potential after renovations, but also underscores the need for a thorough inspection to understand the full scope of work required.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
Municipal assessments are for taxation purposes and don't always reflect market value. A very low assessment can be due to the home's age, condition, or specific valuation methods for older neighbourhoods, and often results in lower property taxes.
2. What does the sale history of nearby homes indicate?
Recent sales on Arlington Street show a wide range, from $22.9k to $160k. This variance highlights how much condition, updates, and specific lot features impact value here, making professional appraisal and comparison crucial.
3. Is the unfinished basement a drawback?
Not necessarily. While it requires investment to finish, it provides flexible storage, mechanical space, and future expansion potential without the cost of initially finishing it being factored into the price.
4. How does the lot size compare, and what does it mean?
At 2,515 sqft, the lot is smaller than many in the city but fairly average for Daniel McIntyre. It offers manageable outdoor space for a garden or patio with less maintenance than a larger lot.
5. What should I prioritize in an inspection for a home from 1905?
Focus on the foundation, structural integrity, roof, wiring, plumbing, and heating systems. The inspection should identify any urgent repairs needed to preserve the character of the home while ensuring safety and efficiency.