Property Summary: 779 Lipton Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home in the Daniel McIntyre neighbourhood, built in 1924. Its key characteristic is its modest scale, with a living area of 533 sqft that is notably smaller than most homes on its street, in the area, and city-wide. The home sits on a standard city lot of 2,344 sqft and features a renovated basement and a detached garage.
The primary appeal lies in its affordability and efficiency, as reflected by its well-below-average assessed value. It represents a low-barrier entry point into Winnipeg’s housing market. The renovated basement adds functional space, offering flexibility for storage, a workshop, or a recreational area. The detached garage is a valuable asset in this urban setting.
This property would best suit a first-time buyer, an investor looking for a straightforward rental property, or someone seeking a minimalist, low-maintenance lifestyle without a large mortgage. Its smaller size makes it manageable and cost-effective to heat and maintain. A thoughtful perspective is that this home offers the tangible benefits of property ownership—like equity building and autonomy—without the footprint or upkeep of a larger house, which can be a deliberate and liberating choice.
Section 2: Frequently Asked Questions
1. Is the living space too small?
At 533 sqft, the above-ground living area is compact. The floor plan’s efficiency and the addition of the renovated basement will be crucial factors in determining if the space meets a buyer’s needs.
2. Why is the assessed value so much lower than nearby homes?
The assessed value is primarily a reflection of the home’s smaller size and modest characteristics compared to larger, more updated properties in the broader area. It indicates a lower property tax burden but is not a direct market price.
3. What does the “renovated basement” include?
The listing notes a renovated basement, but specifics on the finish quality, ceiling height, permits, and intended use (e.g., legal suite, recreation room, storage) should be verified through a viewing and inspection.
4. What is the neighbourhood like?
Daniel McIntyre is a mature, central Winnipeg neighbourhood. Prospective buyers should visit at different times to gauge traffic, noise, and overall community feel, as experiences can vary street by street in established urban areas.
5. Are there any concerns with a home built in 1924?
While the home’s age is above average for its immediate street, it is common for the area. An inspection is essential to assess the condition of major systems (roof, wiring, plumbing, foundation) and any updates that have been made over the years.