Property Overview: 723 Lipton Street, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated two-storey home in Daniel McIntyre presents a practical opportunity in Winnipeg’s market. Built in 1912, it offers 1,208 sqft of living space with a renovated basement, fitting comfortably within the average range for the immediate area. Its core appeal lies in its established neighbourhood setting and a recent sale history suggesting active turnover. The assessed value of $230k positions it as an above-average property within Daniel McIntyre itself, but notably below the wider city average, highlighting a value proposition for this specific locale.
The home would suit first-time buyers or practical investors seeking a character home without the premium of newer suburbs. Its lot size, while smaller than city averages, is typical for the inner-city and requires less maintenance. A thoughtful perspective is that this property represents a "middle-ground" investment: it’s not the oldest or smallest on its street, nor the newest or largest, but offers a balanced entry point into a mature community. The renovated basement adds functional space, appealing to those needing flexibility for a home office, rental potential, or family room.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to likely market value?
The $230k assessment is a municipal valuation for tax purposes. Notably, it's above average for Daniel McIntyre but below the city-wide average. Recent sale prices on the street vary, so market value would depend on current conditions, the home's interior condition, and the specifics of the renovation.
2. What does the "below average" land area mean for me?
At 2,346 sqft, the lot is smaller than many in Winnipeg overall but is common for the neighbourhood. This typically means lower yard maintenance and potentially lower landscaping costs, but may limit expansion options like large additions or pools.
3. Is a 1912 home a concern?
The age is typical for Daniel McIntyre. While it offers character, it necessitates a thorough inspection for foundational integrity, wiring, plumbing, and insulation. The renovated basement is a positive update, but the overall condition of major systems should be verified.
4. Who might this property not suit?
Buyers seeking a large yard, modern open-concept layouts, or garage parking may find it limiting. It’s better suited for those who appreciate the charm and location of an older neighbourhood and are comfortable with the upkeep of a century-old structure.
5. What’s the significance of the recent sale in 2022?
The property sold in March 2022 for $275k. This recent transaction provides a concrete, modern price point for comparison and indicates the home has changed hands relatively quickly in the past, which can be a sign of a desirable location or property type within its market segment.