Property Overview: 267 Woodlawn Street, Deer Lodge, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1918, presenting a classic opportunity in Winnipeg's Deer Lodge neighbourhood. Its key appeal lies in its position as an accessible entry point into the market, underscored by a very low municipal assessed value. The 790 sqft living area is notably smaller than most comparable homes locally, indicating a property suited for minimalists, first-time buyers, or investors seeking a straightforward rental proposition.
The lot size of 4,798 sqft is a standout feature, offering generous outdoor space relative to the home's footprint—a rare combination in this price range. This presents potential for gardening, expansion, or simply enjoying a larger yard than typical city lots. The home includes a basement (unrenovated) and a detached garage, adding functional utility.
This property would best suit a practical buyer who values land over finished living space, sees potential in a character home, and is prepared for updates. It’s a candidate for those looking to build equity through renovation or who prioritize lower property taxes due to its low assessment. Its recent sale history suggests it has been held as a value-focused investment.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value is based on the property's specific attributes—including its smaller size, age, and condition—relative to others. It reflects its market position as a more affordable, value-oriented property.
2. What does the "below average" ranking for living area mean for me?
It confirms the home is compact. This translates to lower utility costs and less maintenance, but also requires efficient use of space. It's ideal for 1-2 people or someone comfortable with a cozy layout.
3. The home is over 100 years old. What should I consider?
While offering charm, a 1918 build requires a thorough inspection. Focus on the foundation, wiring, plumbing, and insulation. The unrenovated basement should be checked for moisture and structural integrity.
4. How does the large lot size benefit me if the house is small?
It provides valuable flexibility. You have ample room for storage, recreation, or pets. Long-term, it could allow for an addition, garden suite (subject to zoning), or simply preserves a sense of openness uncommon with smaller homes.
5. The home sold recently in 2019 and 2016. What does that indicate?
The relatively quick turnover at stable price points suggests the property has been viewed as a solid, cash-flowing investment or a starter home. It's worth investigating why the previous owners sold to understand any persistent issues or simply typical investor cycles.