Property Overview
This two-storey home on Arlington Street presents a straightforward opportunity in Winnipeg's Dufferin neighbourhood. Built in 1908, it offers 1,104 sqft of living space, which is squarely average for the immediate area. The property sits on a 2,433 sqft lot and features a basement that has not been renovated. There is no garage or pool. Notably, the home sold recently in September 2024 for $140,000, a figure that is significantly below the citywide average for comparable homes.
Key Characteristics & Appeal
The primary appeal of this property is its value-oriented entry point into the Winnipeg market. Its recent sale price is well below typical city averages, making it a candidate for buyers with a limited budget or those seeking a lower mortgage commitment. The living space is practical and in line with neighbouring homes, suggesting it meets the basic needs for a small household.
Its suitability is for a specific type of buyer: hands-on investors or owner-occupants comfortable with projects. The unrenovated basement and the home's age indicate it may require updates and maintenance. A less obvious perspective is its potential as a "blank canvas" property—the below-average assessed value and sale price could allow a new owner to invest in strategic renovations while still having a total invested cost that remains competitive. It would not suit someone seeking a turn-key, modern home or those unwilling to manage the upkeep of a century-old structure.
Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sale price?
Municipal assessed values for tax purposes often lag behind current market values and are calculated using different metrics. The recent sale price of $140,000 is the clearer indicator of its current market worth.
2. What does "basement not renovated" typically imply?
This usually means the basement retains its original or older finishes, mechanical systems, and layout. It may be suited for storage and utilities but likely requires work to become a modern, finished living space.
3. How does the lot size affect this property?
At 2,433 sqft, the lot is smaller than most in both Dufferin and citywide. This means lower outdoor maintenance but also limited space for expansions, additions, or extensive landscaping.
4. Is the age of the home (1908) a major concern?
While it offers classic character, it necessitates a careful inspection for aging components like wiring, plumbing, insulation, and the foundation. Budgeting for ongoing repairs is a prudent expectation.
5. Who would this property not be a good fit for?
It would likely not suit buyers who prioritize modern amenities, large outdoor spaces, or a garage. It is also less ideal for those who cannot accommodate potential renovation projects or the unpredictable repairs that can come with older homes.