Property Summary: 892 Lipton Street, Winnipeg
Section 1: Overview & Appeal
This one-and-a-half storey home in Daniel McIntyre is a classic Winnipeg character property, built in 1910. With 1,130 sqft of living space, it offers a practical footprint that is very typical for the area. Its key characteristics include a functional basement and no garage, presenting a straightforward, no-frills canvas.
The primary appeal lies in its position as an accessible entry point into the market. The assessed value is notably below average for the city, suggesting a lower property tax burden and an opportunity for buyers focused on affordability over size or modern finishes. The lot, while smaller than city averages, is in line with the neighbourhood’s more compact, established streetscape, offering manageable outdoor space.
This property would best suit a pragmatic first-time buyer, an investor looking for a rental property, or a hands-on individual who sees potential in a home’s basic structure. It’s for someone comfortable with a home that requires updates, values character over contemporary open-concept layouts, and prioritizes location and affordability. A less obvious perspective is that its very average metrics for the neighbourhood indicate a stable, predictable investment without the premium or the extreme challenges sometimes found in the area.
Section 2: Frequently Asked Questions
1. What does the assessed value tell me about this property?
The assessed value is significantly below the Winnipeg city average, which typically correlates with lower annual property taxes. It reflects the home’s age, condition, and smaller lot size rather than its potential market sale price.
2. How does the living space compare to the area?
At 1,130 sqft, it is slightly below the average for Daniel McIntyre but is very typical for Lipton Street itself. It represents a standard, efficient layout for a character home of this era.
3. What should I know about the lot size?
The lot is 2,340 sqft, which is smaller than most lots across Winnipeg but is a common size in this central neighbourhood. It means less yard maintenance but also limited space for expansions or additions.
4. The home sold in August 2022. Is that recent sale price a good indicator of current value?
The 2022 sale price can provide a historical benchmark, but market conditions have likely shifted. It’s best used as a reference point alongside a current professional appraisal and recent comparable sales.
5. What are the implications of the “basement, not renovated” description?
This indicates the basement is functional but in original or utilitarian condition. Buyers should budget for potential updates, moisture management, or insulation improvements to maximize its use and efficiency.