Property Overview: 117 Apple Lane, Heritage Park, Winnipeg
Key Characteristics & Appeal
This 1989 bi-level home at 117 Apple Lane is a compact, efficiently designed property that presents a clear value-oriented opportunity. With 786 square feet of living space and a renovated basement, it offers modern functionality within a modest footprint. Its key appeal lies in its position as a financially accessible entry point into the Winnipeg market, underscored by a notably low municipal assessed value. The home is newer than most in its immediate area and on its street, suggesting potentially fewer major age-related concerns compared to neighborhood averages.
The property would suit first-time buyers or investors seeking a straightforward, lower-maintenance home without a large upfront investment. Its below-average citywide living space and small lot (3,444 sqft) mean it’s best for those comfortable with a cozy layout and minimal outdoor upkeep. A thoughtful perspective is that this home represents a practical “land banking” opportunity in Heritage Park; you’re acquiring a modernized structure in an established neighborhood where the land itself holds long-term value, even if the home’s size is below the area norm.
Frequently Asked Questions
1. Is the low assessed value a red flag?
Not necessarily. It primarily reflects the home’s smaller size relative to the city and even the neighborhood. It indicates a lower property tax burden, which is a key part of its affordability.
2. What does "renovated basement" typically include in a home like this?
In a bi-level, the basement is often a fully finished lower living area, potentially adding bedrooms, a family room, or a laundry area. It’s a major factor in maximizing the usable space in a sub-800 sqft main footprint.
3. How does the lack of a garage affect daily life and value?
It emphasizes the home’s minimalist profile. Buyers should plan for street parking and consider the impact on winter convenience and storage. This is a common trade-off for affordability in older neighborhoods.
4. The home is newer than most on the street. Is that an advantage?
Yes. Being built in 1989, it likely benefits from more modern construction standards, wiring, and insulation than many of its older neighbors, which can mean lower immediate repair costs and better energy efficiency.
5. The lot is smaller than the area average. What are the implications?
It means less yard maintenance and lower landscaping costs—an advantage for those seeking simplicity. However, it also limits expansion potential and private outdoor space, so it’s ideal for buyers who prioritize the home’s interior and location over a large yard.