Property Overview & Key Characteristics
This 1912 one-and-a-half storey home in Daniel McIntyre presents a classic Winnipeg character property with solid fundamentals. Its primary appeal lies in its established location and the value proposition of its lot size. With 1,085 sqft of living space and a generous 2,345 sqft lot, the property sits on land that ranks within the top quarter for size on its street. It features a basement, which offers storage or future potential, though it is noted as not renovated.
The home suits practical buyers looking for an entry point into a mature neighbourhood. It's ideal for someone comfortable with a home that requires updates, valuing lot size and location over move-in-ready finishes. A thoughtful perspective is its recent sale in June 2024 for $23.30k, which suggests it may be of interest to investors, renovators, or those seeking a land-value opportunity, rather than a traditional family home in its current state. Its assessed value stability and older vintage point to a project that rewards a long-term view of the neighbourhood's continuity rather than seeking modern amenities.
Frequently Asked Questions
1. What does "not renovated" for the basement imply?
It typically means the basement is in original or functional condition, likely used for utilities and storage. Buyers should anticipate an unfinished space that may require addressing foundational, moisture, or updating issues before conversion to living space.
2. How significant is the lot size?
At 2,345 sqft, the lot is larger than 78% of others on Lipton Street. This is a key asset, offering more outdoor space than many neighbouring properties and potential for additions, landscaping, or gardening in a centrally-located area.
3. The home sold very recently (June 2024). What does that mean?
A resale so soon after purchase can indicate a number of things, such as an investor flip, a property assignment, or a change in the buyer's circumstances. It warrants asking the seller or agent about the history and any work done in the interim.
4. How does the assessed value compare to the recent sale price?
The assessed value is $21.60k, and it sold for $23.30k. The close alignment suggests the market and the city assessor see similar value in the property's current condition, providing a stable benchmark for taxation and value.
5. Is the age of the home (1912) a concern?
While it adds character, it necessitates a focus on the condition of major aging components like the foundation, roof, wiring, and plumbing. A thorough inspection is essential to understand the maintenance and update requirements inherent to a century-old structure.