242 Overdale Street

Property Overview: 242 Overdale Street, Deer Lodge, Winnipeg

Section 1: Key Characteristics & Appeal

This one-storey home, built in 1926, presents a practical opportunity in the established Deer Lodge neighbourhood. Its key characteristic is a sense of balance: with 1,360 sqft of living space and a 6,014 sqft lot, it sits around the city-wide average for size but offers an above-average land parcel for its immediate area. The home features a renovated basement, adding functional living space. Its assessed value is notably strong within Deer Lodge, ranking in the top 7% of the neighbourhood, which suggests a solid foundation of value relative to nearby properties.

The appeal lies in its positioning as a character home with room to grow on a generous lot, without the premium price tag of a larger or fully modernized property. It suits a specific buyer: someone looking for a single-level layout (or with potential to add a second storey), who values a mature neighbourhood and sees potential in the land size. It’s a fit for a hands-on buyer comfortable with the upkeep of a century-old home, or an investor attracted by its desirable lot dimensions and neighbourhood value ranking. A less obvious perspective is that for Deer Lodge, this property offers a relatively rare combination—a home from the 1920s on a lot size that ranks well above the neighbourhood average, providing a blend of historic charm and spatial potential that isn't always available.

Section 2: Frequently Asked Questions

1. How does the home’s size compare to the area?
While the living area is slightly below average for Overdale Street itself, it is above the average for the broader Deer Lodge neighbourhood and aligns closely with the Winnipeg city-wide average for homes.

2. What does the “Top 7%” assessed value ranking for Deer Lodge mean?
This indicates the home’s official assessed value is higher than 93% of comparable properties in Deer Lodge. It often reflects a combination of lot size, location, and improvements (like the renovated basement), suggesting the property is considered a higher-value asset within the neighbourhood context.

3. Is the lot size a significant feature?
Yes. The lot is over 6,000 sqft, which ranks in the top 11% for size in Deer Lodge. This is a standout feature, offering more outdoor space and potential (like gardening, expansion, or additions) than many neighbouring properties.

4. Are there recent sale prices for context?
The property sold in August 2022 for $242.4k and previously in August 2020 for $37.1k. The 2020 sale appears to be a nominal or non-arms-length transaction, making the 2022 sale the more relevant market benchmark.

5. What should I consider with a 100-year-old home?
While a renovated basement is a positive update, a home from 1926 will require a thorough inspection. Key focuses should be the foundation, roof, plumbing, electrical systems, and overall structure to understand future maintenance obligations and potential upgrade costs.