Property Overview: 511 Parr Street, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home on Parr Street is a compact, character property built in 1928. Its primary appeal lies in its balance of a modest, renovated living space with a surprisingly generous lot. The living area is 660 sq ft, which is below average for the city, but the property sits on a 4,010 sq ft lot that is notably larger than most on its street. It features a renovated basement and a detached garage.
The home would suit first-time buyers or investors seeking an entry point into the market with a focus on land value over square footage. It’s a practical choice for those comfortable with a smaller interior footprint but who value outdoor space for gardening, storage, or future expansion. The recent sale in 2024 suggests it’s move-in ready, and its assessed value is consistent with the local area, indicating a stable, no-surprises investment in the Inkster-Faraday neighbourhood.
A less obvious perspective is that this property represents a specific value proposition: you are purchasing a larger-than-average parcel of land for the area with a functional home included. Its appeal isn't in grandeur, but in potential and practicality.
Frequently Asked Questions
1. How does the home's size compare to nearby properties?
At 660 sq ft, the living area is smaller than the average home on Parr Street (approx. 991 sq ft) and within the Inkster-Faraday neighbourhood. It is a compact, efficient layout.
2. Is the assessed value a reliable indicator of the market price?
The assessed value is around $20,300, which is typical for this specific street and neighbourhood. However, the recent sold price in 2024 was between $235,000 and $265,000, which is the more relevant indicator of current market value.
3. What does "renovated basement" include?
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 if it's finished living space, updated utilities, or both.
4. What are the advantages of such a large lot?
The 4,010 sq ft lot is significantly larger than many neighbouring properties. This provides more private outdoor space, potential for additions (subject to zoning), room for a larger garden, or simply less crowded feeling compared to tighter lots.
5. How can I find out the exact historical sold price?
The exact sold price is not publicly displayed. As noted on the listing, you can request the accurate sold price history by emailing the source directly, as they compile this data manually.