Property Overview
356 Albany Street is a compact, one-storey home in Winnipeg's Deer Lodge neighbourhood. Built in 1918, it features a detached garage and an unfinished basement. With 692 square feet of living space on a 2,923 sqft lot, it is notably smaller than most homes in the area and citywide. Its recent sale price and assessed value are significantly below local averages, positioning it as one of the more accessible entry points into the Winnipeg market.
Key Characteristics & Appeal
This home’s primary appeal lies in its affordability and lot potential. It suits first-time buyers, downsizers, or investors seeking a low-cost entry into a well-established neighbourhood. The below-average price reflects its smaller size and need for modernization, offering a clear renovation or expansion project for a hands-on buyer. A thoughtful perspective is that its older vintage (1918) and modest scale on a standard city lot present a rare opportunity to thoughtfully update a character home without the premium price of a larger, already-renovated property. The detached garage adds functional value. It’s best suited for those comfortable with a project, who value location and land over immediate move-in condition, and who see potential where others might only see limited square footage.
Frequently Asked Questions
1. How does the size compare to nearby homes?
At 692 sqft, the living area is well below average for Deer Lodge (approx. 1,197 sqft) and for the city, making it a compact home.
2. What does the assessed value indicate?
The assessed value is significantly lower than area averages, which typically reflects the home's smaller size, condition, and unfinished basement. It is consistent with a property requiring investment.
3. Is the lot a good size for the area?
The lot is approximately 2,923 sqft, which is below average for Deer Lodge but around average for its specific street, offering standard city lot potential.
4. What type of buyer would this home suit best?
It is ideally suited for a budget-conscious first-time buyer, a downsizer looking for minimal upkeep, or an investor/renovator who sees value in the land and the opportunity to add value through updates.
5. Are homes on this street typically older?
Yes. With a build year of 1918, this home is older than the average on Albany Street (approx. 1949), suggesting a street with a mix of early to mid-20th century character homes.