Property Overview: 364 Lilac Street, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home in the established Earl Grey neighbourhood presents a classic character home opportunity. Built in 1914, it offers 1,216 sqft of living space, which is competitively sized for the area. The property features a detached garage and a full, unrenovated basement, providing functional space and future potential. Its assessed value consistently ranks above average for both its immediate street and the wider Earl Grey area, suggesting it is viewed as a solid asset within its peer group.
The primary appeal lies in its location within a desirable, central neighbourhood and its position as a well-maintained, century-old home on a manageable lot. The data indicates it has been a stable and appreciating asset in its local context. This home would best suit a buyer who appreciates character architecture and is either comfortable with a home of this vintage as-is, or sees potential in a basement that awaits their personal touch. It’s a practical choice for someone seeking an established community without the premium lot size of newer suburbs, ideal for small families, couples, or investors looking at the long-term value of inner-city neighbourhoods.
Section 2: Frequently Asked Questions
1. How does the lot size compare?
The land area is 2,510 sqft, which is below average for both the street and the city. This means lower maintenance but less private outdoor space compared to many properties.
2. What does the "above average" assessed value mean?
The home’s assessed value ranks in the top 29% on its street and top 16% in Earl Grey. This generally indicates the property is considered more valuable than many comparable homes in the immediate area, often due to factors like condition, specific location, or improvements.
3. Is the basement finished?
No, the listing specifies the basement is "not renovated," meaning it is in an unfinished or utility state, offering potential for future development.
4. How recent are the sales history and trends?
The property sold recently in May 2024 for $38.50k. A previous sale was in October 2020 for $35.10k. This shows a pattern of ownership turnover and provides a very current market price reference.
5. How old is the home, and what should I consider?
Built in 1914, the home is 112 years old. While it ranks as newer than many on its specific street, it is a century-old property. Buyers should budget for potential updates to older mechanical systems, windows, or insulation, balanced against the charm and build quality of the era.