Property Summary: 306 Lilac Street, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home in the established Earl Grey neighbourhood offers a practical footprint with a renovated basement. Built in 1910, it carries the character and construction quality of its era, situated on a modest, manageable lot. Its primary appeal lies in its solid positioning as an "average" performer within its immediate context: the living space, assessed value, and lot size are all competitively aligned with similar homes on Lilac Street and within the wider Earl Grey area. This suggests a home that is neither over-improved nor under-sized for its locale, offering a balanced entry point into a desirable neighbourhood.
The property would suit a pragmatic buyer—perhaps a first-time homeowner or a downsizer—who values location and functional space over modern extravagance. The renovated basement adds usable square footage without the premium of a brand-new build. A thoughtful perspective is that its consistent "middle-of-the-pack" metrics could indicate stability and reduce the risk of overpaying relative to the immediate area, though it also means the home doesn't stand out for size or newness. It’s a home for someone who appreciates the established tree-lined streets of Earl Grey and is prepared to steward a character property, understanding that its age (ranking in the older tier) may come with both charm and maintenance considerations.
Section 2: Frequently Asked Questions
1. How does the home's size compare practically?
At 1,154 sqft of living area, it is slightly smaller than the average for both Lilac Street and Earl Grey, but well within the typical range. It's a efficient layout suitable for a smaller household.
2. What does the assessed value tell us?
The City's assessed value ($30.20k) is a figure used for property tax calculation and is not market value. Its assessment is near the middle for the area, suggesting the property is viewed consistently with its peers for municipal purposes. The home sold for $350k in October 2023, which is the relevant market price.
3. Are there any obvious drawbacks from the data?
The lot size is below average for Earl Grey and significantly smaller than the Winnipeg city average. This means smaller outdoor space but also less yard maintenance. The home's age (1910) places it among the older homes in the city, which often involves planning for updates and maintenance.
4. Who might this property not suit?
Buyers seeking a large yard, ultra-modern infrastructure, or a home that ranks in the top tier for size and newness within the city may find it lacking. It's geared toward those who value neighbourhood over sheer property scale.
5. What is the neighbourhood context like?
Earl Grey is a mature, central neighbourhood. The data shows that homes on Lilac Street itself are very comparable in size and value, indicating a consistent, stable streetscape without extreme outliers, which can be appealing for neighbourhood cohesion.