Property Overview: 378 Albany Street, Deer Lodge, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1918, offering a classic bungalow layout with an unrenovated basement and a detached garage. With 912 sqft of living space on a 3,859 sqft lot, its size is very typical for Albany Street itself but is considered below average for both the wider Deer Lodge neighbourhood and the city. The home’s assessed value is notably low compared to most area properties, which is a defining characteristic.
Its primary appeal lies in its position as an entry-point opportunity in a well-established neighbourhood. It suits a specific buyer: someone seeking affordability and land value in Deer Lodge, who is prepared for a home with original character and likely in need of updates. It’s a practical choice for a first-time buyer, an investor, or someone looking to downsize with a manageable footprint. A less obvious perspective is that its smaller scale and lower taxes could be attractive for those seeking a simpler, more economical lifestyle without leaving a mature community with larger, more expensive homes nearby.
Frequently Asked Questions
1. Why is the assessed value so much lower than nearby homes?
The assessed value is based on the property’s specific attributes, including its smaller size, age, and condition relative to others. It reflects its current market position as a more affordable option in the area.
2. What does "basement, not renovated" typically mean?
This indicates the basement is in original or functional condition, but not modernized. It likely provides essential utility space and storage, but may not be a finished living area. Buyers should budget for potential updates.
3. Is the smaller lot size a disadvantage?
While the lot is smaller than many in Winnipeg, it is very close to the average for Albany Street. It offers a manageable yard with less maintenance, which can be an advantage for some lifestyles.
4. How does the 1918 build year affect the home?
A home of this age offers classic charm but requires a diligent inspection. Key systems like plumbing, electrical, and the foundation should be carefully evaluated, as updates may be needed or planned for.
5. The sale history shows a significant price difference between 2016 and 2021. What does this indicate?
The 2016 sale represents a prior market transaction. The 2021 sale price is notably lower and may reflect a different circumstance, such as a non-arms-length transfer or updated assessment data. It’s important to review the current market valuation and not rely solely on historic sale prices.