Property Overview: 402 Linwood Street, Deer Lodge, Winnipeg
Key Characteristics & Appeal
This one-storey home on a spacious 5,747 sqft lot presents a unique value proposition in the Deer Lodge neighbourhood. Its key appeal lies in a notable contrast: while the living area (958 sqft) is modest and below local averages, the property’s assessed value ranks highly within its immediate area, placing in the top 13% on its street. This suggests the value is driven by factors beyond square footage, such as its desirable lot size, the renovated basement, and the detached garage. Built in 1952, it is a newer construction compared to many neighbouring homes.
The property would suit practical buyers looking for a solid entry point into a well-established neighbourhood. It’s ideal for those who prioritize land over a large footprint, seeing potential for outdoor space, gardening, or future expansion. The renovated basement adds functional living space, making it suitable for small families, downsizers, or investors seeking a manageable property with strong fundamentals. A thoughtful perspective is that this home represents a “land-value play” in a mature area, where the underlying property asset is robust, offering stability and potential that isn’t solely tied to the size of the house itself.
Frequently Asked Questions
1. Is the house too small given its square footage?
While the living area is below average for Deer Lodge, the inclusion of a renovated basement significantly expands the usable space. The value ranking indicates that official assessment considers the full package—including lot size and improvements—as strong for the area.
2. What does the high assessed value ranking mean for property taxes?
A higher assessment relative to immediate neighbours typically results in higher property taxes. However, it also strongly indicates that the property is viewed as a premium asset on its street, which can be positive for equity and resale value.
3. How does the lot size compare, and what are the possibilities?
At nearly 5,750 sqft, the lot is above average for both the street and Deer Lodge. This provides ample private outdoor space, room for additions like a deck or shed, and is a key contributor to the property’s overall value.
4. The home was built in 1952. Should I be concerned about its age?
Interestingly, for this street and neighbourhood, a 1952 build date is considered newer than average. While due diligence on systems like plumbing and electrical is always advised, the structure itself is relatively younger than many comparable homes in the area.
5. How stable has the property’s value been?
Previous sales in 2017 and 2020 show a steady increase in sale price. The current assessed value continues this trend, ranking well above local averages, suggesting consistent value appreciation in its micro-market.