Property Overview: 740 Lipton Street, Winnipeg
Key Characteristics & Appeal
This is a classic one-and-three-quarter storey home in the Daniel McIntyre neighbourhood, built in 1912. With 1,196 square feet of living space, it sits right around the average size for the area, offering practical room for a small family or couple. The lot is a manageable 2,346 sqft, typical for the inner-city, which means less yard maintenance but still provides private outdoor space.
The primary appeal lies in its position as a grounded, no-frills opportunity in a well-established community. Its assessed value is notably below both the street and city-wide averages, which can signal an entry point for buyers comfortable with a home that likely requires updates. The unrenovated basement presents a blank canvas for finishing to suit an owner's needs. This property would suit a first-time buyer, an investor looking for a character rental, or a hands-on owner who values the authentic charm of a century-old home and sees potential in personalizing it over time. Its average rankings in size and age for the immediate area suggest it's a typical, solid representation of the neighbourhood's housing stock, not an outlier.
Frequently Asked Questions
1. Why is the assessed value so much lower than recent sale prices on the street?
The assessed value is for taxation purposes and often lags behind current market values, especially in evolving areas. Nearby sales suggest the market value is likely higher.
2. What does "one & 3/4 storey" mean for the layout?
Typically, this style features full main and second floors, with the top floor under sloped ceilings (in the eaves). It offers more space than a bungalow but with a cozier, character-filled upper level compared to a full two-storey.
3. Is the unrenovated basement a concern?
It's a key consideration. It means systems and foundations should be thoroughly inspected, but it also offers the next owner the chance to finish it correctly for their use without paying a premium for a previous owner's choices.
4. How does the lot size affect living here?
At just under 2,350 sqft, the lot is compact. This translates to less time spent on yard work and a closer sense of community with neighbours, but limits possibilities for large additions or extensive landscaping.
5. The home is over 110 years old. What should I prioritize in an inspection?
Beyond standard checks, focus on the condition of the original foundation, plumbing and electrical updates, roof integrity, and evidence of proper insulation and moisture control, especially in the basement and attic.