Property Summary: 426 Linwood Street, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home in Deer Lodge is a property defined by its potential and its lot. Built in 1920, it offers 1,066 sqft of living space, which is modest but functional for the area. The home features a basement (not renovated) and a detached garage. Its most significant asset is the land—a 5,747 sqft lot that is notably larger than many in the immediate neighbourhood and Deer Lodge overall. This presents a clear opportunity for expansion, gardening, or outdoor living that is harder to find on standard lots.
The appeal here is grounded in value and possibility. The home’s assessed value is well below averages for the street, neighbourhood, and city, suggesting it may be priced accessibly for a buyer willing to invest sweat equity or gradual updates. It suits a practical first-time homebuyer, an investor looking for a property with land value, or a hands-on owner who sees the charm in an older character home and has a vision for its future. It’s not a move-in-ready showpiece, but a solid foundation in a mature community.
Frequently Asked Questions
1. What does "below average" assessed value indicate?
It primarily suggests the municipality's tax assessment is low relative to other homes. This can mean lower property taxes, but it often reflects the home's older condition and unrenovated state compared to neighbours. It doesn't automatically dictate market sale price.
2. Is the large lot a guarantee for future expansion or subdivision?
While the lot size is an advantage, any expansion (adding a second floor, an extension) or subdivision would require research into current City of Winnipeg zoning bylaws, heritage designations (if any), and obtaining the necessary permits. It’s a potential that needs verification.
3. What are the implications of an unrenovated basement?
This typically means the basement retains its original state. Buyers should budget for potential updates to moisture management, insulation, and electrical systems if they plan to finish the space, and should prioritize a thorough inspection for foundation and drainage.
4. How does the 1920 build year affect maintenance?
Homes from this era have character but often require attention to aging components like plumbing, wiring, windows, and insulation. A pre-purchase inspection is highly recommended to understand the condition of these core systems.
5. The home sold in late 2021. What can that history tell me?
The previous sale price can provide a market reference point, but the real estate landscape has seen shifts since then. It’s more useful to look at recent sales of similar, updated homes in Deer Lodge to understand the value gap and potential upside.