272 Albany Street

Property Overview: 272 Albany Street, Winnipeg

Section 1: Key Characteristics & Appeal

This one-storey home in Deer Lodge is a practical entry point into the Winnipeg market. Its key characteristic is its modest scale, with 845 sqft of living space and an unrenovated basement, situated on a standard city lot. The home’s assessed value is notably below average for the area, which is its primary appeal, indicating a lower property tax burden and an accessible price point for a first-time purchase.

The property suits buyers seeking a straightforward, no-frills home where value is defined by land ownership and location rather than modern finishes. It’s a fit for an investor looking for a rental property with fundamentals, a handy buyer who sees potential in a basement project, or a downsizer wanting minimal upkeep. A less obvious perspective is its appeal to those who prioritize financial predictability; the below-average assessment offers insulation from sharp tax increases relative to more "improved" neighbouring homes. Its age (built 1918) and basic condition mean it is a canvas for personalization rather than a move-in-ready showcase.

Section 2: Frequently Asked Questions

1. Is this a small house?
Yes. At 845 sqft, the living area is below the average for both Deer Lodge and Winnipeg overall. It’s a compact, efficient layout typical of its era.

2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home’s modest size, age, and condition (including an unrenovated basement). It is ranked in the bottom 15% on its own street, indicating it is a more basic property compared to others in the immediate vicinity.

3. What does the "unrenovated basement" imply?
It means the basement is in original or utilitarian condition, likely lacking modern finishes. It presents potential for additional living space or storage but would require investment.

4. How does the lot size compare?
The land area of 2,929 sqft is around average for Albany Street but below average for the wider Deer Lodge area. It provides a standard urban yard space.

5. The home sold in 2020. What can that price tell me?
The 2020 sale price provides a historical benchmark, but market conditions have likely changed. It’s most useful to see how the previous sale compared to the assessed value at that time, giving context to the property’s market trajectory.