Property Overview: 911 Lipton Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-and-three-quarter storey home built in 1907, offering 880 square feet of living space on a 2,339 sqft lot in the Daniel McIntyre neighbourhood. Its key characteristics are its historic roots, modest scale, and notably low municipal assessed value. The appeal lies primarily in its position as an entry-point property or a strategic investment. It represents one of the most accessible price points in its immediate area and city-wide, suitable for a first-time buyer comfortable with a home requiring updates, or an investor looking for a straightforward rental opportunity. The unrenovated basement presents both a project and potential. A thoughtful perspective is that its smaller size and lot, while below area averages, translate to lower maintenance costs and property taxes, which can be a significant long-term advantage for budget-conscious owners. This home suits a pragmatic buyer whose priority is securing a foothold in the market rather than acquiring a turn-key property.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than nearby homes?
The assessed value is based on the property's current state, size, and recent sales. Its lower value reflects the home's smaller scale, age, and condition compared to renovated or larger homes on the street, indicating it is likely priced for its potential rather than its finished state.
2. What should I know about a home built in 1907?
While full of character, a home of this age will likely have original systems and materials. A thorough inspection is essential to understand the condition of the foundation, wiring, plumbing, and structure. Budgeting for updates and maintenance is a key part of ownership.
3. Is the unrenovated basement a concern?
It is a factor to consider. An unrenovated basement may have moisture control, insulation, or accessibility issues. However, it also represents a clear opportunity to add value and living space according to your needs and budget, subject to local building codes.
4. Who would this property not suit?
It may not suit buyers seeking a move-in-ready home, those needing significant space, or anyone uncomfortable with the ongoing projects and potential repair costs associated with a century-old house.
5. How does the lot size impact living here?
The lot is smaller than average for the area, which means less outdoor private space for gardening or entertaining. On the positive side, it typically means less yard work and can contribute to the property's overall affordability.