Property Summary: 435 Lyle Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a classic, renovated one-storey home in Deer Lodge, built in 1951. With 976 sqft of living space, it sits on a decent-sized lot of nearly 4,800 sqft and features a detached garage. The home’s key appeal lies in its balance of established neighbourhood character and practical updates, notably a renovated basement. Its assessed value is notably lower than many comparable homes, which can be a point of interest for buyers.
The property would suit first-time buyers or downsizers looking for a manageable, single-level layout in a mature community. Its appeal is practical rather than luxurious, offering a solid entry point into the market. A thoughtful perspective is that while its living space is modest, the lot size is above average for its immediate street, offering good outdoor potential relative to its footprint. The data suggests you’re paying primarily for the home and location, not an inflated assessment value.
Section 2: Frequently Asked Questions
1. Is the house small compared to others in the area?
Yes, the living area is below the average for both the Deer Lodge neighbourhood and Winnipeg overall. However, on its own street, it’s closer to the average size, fitting the local scale of homes.
2. Why is the assessed value so much lower than the last sale price?
The home sold for $250,000 in 2017, but its current assessed value is $27,900. This large gap is typical; municipal property assessments in Manitoba are not intended to reflect market value but are used for tax calculation. Market value is determined by current sale prices.
3. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the details. A buyer should inquire about the scope of work, permits, and the current layout (e.g., whether it’s a legal suite, a rec room, or additional living space).
4. How does the lot size compare?
The lot is a positive feature. At 4,794 sqft, it is larger than average for both Lyle Street and the Deer Lodge area, providing more outdoor space than many similar properties.
5. Is the age of the home (75 years) a concern?
The year built is older than most in Deer Lodge but typical for its street. While the basement renovation is a plus, the core systems (roof, plumbing, electrical) of a home this age should be carefully inspected to understand their condition and any needed updates.