Property Overview & Appeal
This one-and-a-half storey home on Lipton Street, built in 1913, presents a practical opportunity in Winnipeg's Daniel McIntyre neighbourhood. Its key characteristic is value, with a notably low assessed value that positions it well below city-wide averages. The home offers 959 sqft of living space, which is quite typical for its immediate area and neighbourhood, and it sits on a modest, manageable lot. A renovated basement adds functional living space.
The primary appeal lies in its affordability and location within an established, central community. It suits first-time buyers seeking an entry point into homeownership, or investors looking for a character property with renovation potential. A thoughtful perspective is that its "below average" metrics compared to the entire city are actually a strength here—they represent a lower barrier to entry in a neighbourhood where the home's size and vintage are the norm, not the exception. It’s a home for those who value location and potential over modern size or finishes.
Frequently Asked Questions
1. Why is the assessed value so much lower than the last sale price?
The home sold for $220k in early 2022, while its current assessed value is $18.7k. This large discrepancy is typical; the assessed value for tax purposes is often significantly lower than actual market value in Manitoba. The sale price is the better indicator of its worth on the open market.
2. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. Buyers should inquire about the quality of the renovation, whether it includes a proper ceiling, flooring, and moisture control, and if it adds legal living space or bedrooms.
3. Is the lot size a limitation?
At 2,342 sqft, the lot is smaller than average for Winnipeg but common for the central Daniel McIntyre area. This means lower maintenance, which can be a benefit, but may limit options for large additions or landscaping projects.
4. How does this home compare to others on the same street?
The data shows this home is around average for living area and age on Lipton Street, but ranks below average for lot size and assessed value on the street. This suggests it may be a more modest offering compared to its immediate neighbours.
5. What are the implications of the home being 113 years old?
A 1913 build offers classic character but necessitates a thorough inspection. Key focus areas should include the foundation, original wiring or plumbing updates, roof age, and overall structural integrity. Energy efficiency may also be a consideration compared to newer builds.