Property Overview: 208 Moorgate Street, Deer Lodge, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in Deer Lodge presents a straightforward opportunity, primarily defined by its value proposition and lot. At 1,038 sqft, the living space is modest and typical for the area, housed in a character home built in 1929. A key feature is the generous 5,586 sqft lot, which is above average for the city and offers significant outdoor space or future potential. The home includes a basement (not renovated) and a detached garage.
Its core appeal lies in its position as an entry point into a well-established neighbourhood. With an assessed value significantly below averages for the street, area, and city, it stands out for buyers prioritizing lot size and location over a modern or expanded interior. This property would suit a practical first-time buyer comfortable with a home that may require updates, an investor looking for a land-value play, or someone seeking a manageable footprint with ample yard space in a central community.
A less obvious perspective is that a home with metrics consistently "below average" in its immediate vicinity can represent a unique affordability anchor in that specific locale, offering the neighbourhood's amenities and stability without the premium price tag of its neighbours.
Section 2: Frequently Asked Questions
1. What does "below average" for assessed value really mean here?
It indicates the municipal tax assessment for this home is lower than most comparable properties. This can suggest a lower property tax bill, but it often reflects the home's condition, size, or features relative to others. It's a starting point for value discussion, not a direct market price.
2. Is the 1929 build date a concern?
While the age indicates character, it also means potential for older mechanical systems, wiring, or plumbing. A thorough inspection is essential. The age is typical for the core of Deer Lodge and contributes to the neighbourhood's established feel.
3. How usable is the basement?
The listing notes it is "not renovated." This typically means it is in a functional but unfinished or dated state, suitable for storage and utilities but likely not designed as modern living space without investment.
4. What are the advantages of a larger lot on a modest home?
The above-average lot provides outdoor room for gardens, recreation, or pets. In the long term, it may also offer redevelopment potential (subject to zoning) that smaller lots in the area do not, which can be a key value driver.
5. How recent is the sale price data?
The last recorded sale was in August 2016 for $22,400. This historical price is not indicative of current market value but may be useful for understanding the property's history. Current value should be determined by a recent comparative market analysis.