Property Overview: 394 Moorgate Street, Deer Lodge, Winnipeg
Key Characteristics & Buyer Appeal
This one-storey home in Deer Lodge presents a practical opportunity centered on its generous lot and established location. At 913 sq ft, the living space is compact, ranking below average for the area, but it sits on a larger-than-average 5,610 sq ft lot, offering valuable outdoor space and potential. The home itself is a 1949 build, which is notably older than most on its street, suggesting a classic character but also a focus on maintenance. Its assessed value is firmly in the mid-range for the city, indicating a manageable entry point into the market.
The primary appeal lies in this balance: a competitively priced home on a substantial lot in a mature, stable neighbourhood. It suits a pragmatic buyer—perhaps a first-time homeowner, a downsizer, or an investor—who values land size over square footage and is prepared for the upkeep of an older home. The renovated basement adds functional living space, offsetting the smaller main floor. A thoughtful perspective is that its below-average size and older age, while often seen as drawbacks, contribute directly to its affordability and reduce property tax obligations compared to larger, newer builds on similar lots.
Frequently Asked Questions
1. Is the house in need of major updates?
As a 1949 build, it is among the oldest on the street. While the basement has been renovated, prospective buyers should budget for and investigate the condition of major aging components like the roof, windows, plumbing, and electrical systems.
2. How does the lot size compare to others?
The land area is a key feature. At 5,610 sq ft, it is above average for both Moorgate Street and the wider Deer Lodge area, providing more yard space than many comparable properties.
3. Why is the assessed value average when the house is smaller and older?
The assessed value reflects a combination of factors. While the living area is modest and the home is older, these are balanced by the desirable lot size and the established neighbourhood, resulting in a mid-range valuation.
4. What is the neighbourhood like?
Deer Lodge is a long-established residential area in Winnipeg. The property's metrics show it is a neighbourhood of varied home sizes and ages, offering a quiet, settled community feel with convenient access to city amenities.
5. Was the last sale price typical?
The home sold in September 2019 for $24,500. This is not a typical market sale price and likely represents a transfer between family members or a sale with existing financial arrangements. It should not be used as a benchmark for the property's current market value.