Property Overview: 964 Lipton Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home in Daniel McIntyre is defined by its historic character and practical positioning in the market. Built in 1898, it is among the older homes in the area, offering classic charm and a sense of established community. With 902 square feet of living space and an unrenovated basement, it presents a straightforward, manageable footprint. The lot size is modest and typical for the neighbourhood.
The primary appeal lies in its accessibility and potential. With a notably low assessed value, it represents one of the most entry-level priced properties in the city, suiting first-time buyers or investors seeking a foothold in the Winnipeg market. Its value is rooted in location and land, rather than in finished living space. This property would best suit a hands-on buyer comfortable with a home that may require updates over time, or an investor looking for a rental property in a central, mature neighbourhood. It’s a practical choice for those prioritizing mortgage affordability and long-term equity building over immediate move-in perfection.
Section 2: Frequently Asked Questions
1. What does "one-and-a-half storey" mean for this home?
Typically, this style features a full main floor with a second floor under sloping roof lines, creating cozy bedrooms or attic spaces. Given the home's age and smaller overall square footage, the upstairs area may have lower ceilings and unique layout characteristics common to its era.
2. How significant is the "unrenovated basement"?
This indicates the basement is in original or functional condition, but not modernized. Buyers should budget for potential updates to insulation, flooring, or moisture management, and consider it a space for utilities and storage rather than finished living area without investment.
3. The assessed value seems very low. What does this indicate?
The low assessment primarily reflects the home's modest size, age, and condition relative to the broader market. It generally translates to lower property taxes, which is a financial advantage. However, it also signals that the home's market value is driven more by the land and location than by the current structure.
4. Is the 2022 sale price relevant today?
While it shows a recent transaction, real estate markets can shift. That sale price is a historical data point and should be considered alongside current market conditions, recent comparable sales, and any changes made to the property since.
5. What are the less obvious considerations with a home from 1898?
Prospective buyers should pay special attention to the state of foundational materials, original wiring and plumbing (which may have been partially updated), and the efficiency of the heating system. The charm of historic details is often paired with the ongoing maintenance they require. A thorough inspection is essential to understand the home's true condition.