Property Overview: 302 Lilac Street, Earl Grey, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-three-quarter storey home, built in 1910, is a classic character home situated on a standard city lot in the established Earl Grey neighbourhood. Its key appeal lies in its balance of historic charm and practical updates, notably a renovated basement that adds functional living space to the 1,300 sqft footprint. The home presents as a solid, average-sized property for its immediate street and the city overall, but it stands out in the Earl Grey area with an assessed value that ranks above the neighbourhood average.
This property would suit a buyer looking for a home with character in a mature, central community without the premium price tag of a fully modernized or larger-lot home. It’s ideal for someone who appreciates a sense of history and is potentially comfortable with the maintenance considerations of an older home, as it is notably older than most in Winnipeg. The renovated basement adds value for those needing flexible space for a family room, home office, or guests. Its appeal is grounded in offering a well-positioned, no-frills character home with one significant modern update.
Section 2: Frequently Asked Questions
1. What does "above average assessed value for Earl Grey" actually mean?
It means that, compared to similar homes in the Earl Grey neighbourhood, this property’s official assessed value is higher than most (in the top 28%). This can indicate that the municipality views the property or its improvements favorably relative to its peers, but it’s not a direct market valuation.
2. Are there any concerns with a home built in 1910?
While offering charm, a home of this age will likely have older building materials and systems. Prospective buyers should prioritize a thorough inspection to understand the condition of the foundation, wiring, plumbing, and insulation, and budget for ongoing maintenance consistent with a historic property.
3. The land size is noted as "below average" for the area. Is that a major drawback?
The lot is a standard city size but is smaller than many in Earl Grey. This means less private outdoor space but also less yard maintenance. It’s a typical trade-off for a central, established neighbourhood and is reflected in the home’s positioning.
4. What is the significance of the renovated basement?
In a character home, a renovated basement is a significant functional upgrade. It adds clean, finished living space that older homes often lack, providing room for utilities, storage, and additional living areas without altering the main floor’s original layout and charm.
5. How stable has the home’s value been?
Based on the provided sale history, the home has appreciated in value over time, with the 2023 sale price being higher than the 2016 sale. This suggests it has tracked with or exceeded broader market trends in its category, which is a positive indicator of its stability in the local market.