Property Overview: 254 Albany Street, Deer Lodge, Winnipeg
Key Characteristics & Appeal
This one-storey home at 254 Albany Street presents a compelling mix of modest living space and significant underlying value. With 863 square feet of living area, the house itself is compact, ranking below the average size for both the Deer Lodge neighbourhood and Winnipeg overall. However, its key strengths lie elsewhere. The property sits on a notably generous 4,688 sqft lot for the immediate street, offering ample outdoor space relative to its closest neighbours—a valuable asset for gardening, play, or future expansion. A recently renovated basement adds functional living space.
The home’s true standout characteristic is its assessed value, which ranks in the top 7% for Deer Lodge and the top 6% on Albany Street itself. This significant metric, combined with a relatively modern build year of 1985 (newer than most in the area), suggests a well-maintained or updated property that has been valued substantially higher than many surrounding homes. The sale history shows a sharp increase in value between 2017 and 2022, indicating strong appreciation.
This property would ideally suit first-time buyers or downsizers seeking a manageable, single-level layout in a mature neighbourhood, with the bonus of a large yard. It also appeals to the value-conscious buyer who recognizes that the official assessment and recent sale price point to a home with above-average investment in condition or upgrades for its locale, offering a solid foundation of equity.
Frequently Asked Questions
1. Is the house too small?
At 863 sqft, the living space is indeed compact, below the city average. However, the renovated basement provides additional room, and the very large lot is a trade-off that offers valuable outdoor space not typically found with homes of this size on this street.
2. Why is the assessed value so high compared to neighbouring homes?
An assessment that ranks in the top tier for the street and neighbourhood usually reflects significant improvements, updates, or superior condition relative to peers. It suggests the municipality recognizes a higher level of investment in the property.
3. What does the large difference between the 2017 and 2022 sale prices indicate?
The significant price increase over those five years points to strong market appreciation, likely driven by the home’s renovations and the desirable lot size. It underscores the property’s trend of growing in value.
4. Who would this property not suit?
It may not be ideal for those requiring extensive main-floor living space or multiple large bedrooms. The layout is best for smaller households. Buyers seeking a brand-new home or a minimal renovation project might also look elsewhere.
5. How does the lot size compare practically?
While the lot is larger than most on Albany Street, it is slightly below the city-wide average. The key perspective is that within its immediate context—where lots are typically smaller—this property offers a relative advantage in outdoor space, which is a fixed and desirable feature.