Property Overview & Appeal
This one-storey home at 400 Parr Street in Winnipeg's Inkster-Faraday neighbourhood presents a straightforward, renovated living space. Its key characteristics include a 968 sqft living area, a detached garage, and a renovated basement. Built in 1920, it sits on a 3,001 sqft lot.
The primary appeal lies in its relative affordability and practicality within its immediate context. While its size and assessed value are below Winnipeg's city-wide averages, they are consistently around or just above average for its own street and neighbourhood. This suggests a property that is competitively positioned within its local market, offering a sensible entry point into homeownership. The renovated basement adds functional living space. It would suit first-time buyers, practical downsizers, or investors looking for a character home with foundational updates in an established area. A less obvious perspective is that a home ranking solidly within its local peer group can offer more predictable value and less competition than a standout property, providing a sense of stability.
Frequently Asked Questions
1. What is the exact recent sold price?
The available public data shows a sold price range of $14.50k to $17.50k for October 2022. For the precise figure, you can request the exact sold price history via email from the listing source.
2. How does this home compare to others in the area?
The data indicates this home is very typical for the Parr Street area and Inkster-Faraday neighbourhood. Its living area, assessed value, and land size all rank near the middle compared to immediate peers, meaning it is neither the largest nor the smallest on the block.
3. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. This would be a key detail to clarify with the seller or listing agent to understand the finish quality and intended use.
4. Is the assessed value the same as the market value?
No. The assessed value (listed as $18.30k) is for municipal tax purposes. Market value—what a buyer would pay—is determined by current market conditions and can be significantly different.
5. Given its age, what should I consider?
Built in 1920, the home is older than most on its street and in the city. While the basement has been renovated, a prospective buyer should prioritize inspections for the core structure, foundation, roof, and major systems (like plumbing and electrical) which may be original or have older updates.