Property Overview
This 748 sqft, one-storey home on Albany Street in Deer Lodge presents a straightforward, no-frills opportunity. Built in 1912, it sits on a roughly 3,400 sqft lot. The home is notably compact, with a living area below averages for the street, neighbourhood, and city. Its assessed value is correspondingly low. The basement exists but is unrenovated, and the property has no garage or pool. Recent sale history shows significant price appreciation between 2016 and 2022.
Key Characteristics & Appeal
The primary appeal of this property lies in its position as an affordable entry point into the Winnipeg market, particularly in the established Deer Lodge area. Its low assessed value and relatively small size suggest a potentially manageable property tax burden and lower utility costs. The lot size is average for Albany Street, offering reasonable outdoor space for a home of this scale.
It would suit a first-time buyer, an investor looking for a rental property, or someone seeking a minimalist, low-maintenance living situation. Its compact nature means renovation projects, if desired, could be more contained and less costly in scope. A thoughtful perspective is that this home represents the "bones" of a neighbourhood—a chance to own a character property from 1912 without the premium often attached to fully updated historic homes. The value is in the land and location, with the house itself offering a functional shell.
Frequently Asked Questions
1. Why is the assessed value so much lower than the last sale price?
Assessed value for municipal tax purposes often lags behind market sale prices, which are influenced by current buyer demand, interest rates, and the condition of the home at the time of sale.
2. What does the basement condition "not renovated" imply?
Typically, this means the basement is in a functional but unfinished or partly finished state, with original materials. It may be suitable for storage and utilities but likely lacks modern living spaces. Buyers should budget for potential moisture management or upgrades.
3. How does the small living area compare to nearby homes?
This home is significantly smaller than most in Deer Lodge. While this means less space, it also translates to lower heating costs and less interior maintenance. The floor plan efficiency will be a key factor in livability.
4. The sale price jumped dramatically between 2016 and 2022. What does that indicate?
This sharp increase reflects the strong overall market appreciation during that period. It suggests the property, even in basic condition, has kept pace with area growth, but it does not guarantee future increases at the same rate.
5. What are the practical implications of having no garage?
Parking will be limited to driveway or street. This means dealing with winter snow removal for vehicles and a lack of enclosed storage or workshop space. For some buyers, this trade-off is acceptable for the lower price point.