Property Overview & Key Characteristics
This 1944 one-and-a-half storey home on a 3,237 sqft lot presents a classic Winnipeg character with practical updates. Its key appeal lies in the combination of a renovated basement, a detached garage, and a land size that ranks within the top 15% for the city, offering valuable outdoor space. The home itself, at 1,146 sqft, provides a comfortable footprint.
The property suits first-time buyers looking for a solid starter home with immediate livability, or value-focused investors seeking a property with a strong land-to-structure ratio in a well-established neighbourhood. Its assessed value is notably consistent with the area, suggesting a fair market entry point. A thoughtful perspective is that while the home is not new, its lot size is a permanent asset that outperforms many in Winnipeg, and the renovated basement adds flexible living space that isn't reflected in the official living area square footage.
Frequently Asked Questions
1. How does the property's age affect maintenance?
Built in 1944, prospective buyers should budget for updates to older home systems like plumbing or electrical. However, the home has stood for over 80 years, a testament to its durable construction, and the basement has already been renovated.
2. Is the lot size a significant advantage?
Yes. At 3,237 sqft, the lot is larger than 85% of properties in Winnipeg. This allows for more privacy, gardening space, and potential for outdoor additions like a deck or shed, which is a premium in many city neighbourhoods.
3. What does the "Top 15% in Winnipeg" ranking for land area actually mean?
This statistical ranking means that compared to all residential properties in Winnipeg with available data, this home's lot size is larger than approximately 85% of them. It's a key indicator of the property's inherent value.
4. How does the assessed value compare to nearby homes?
The assessed value of $22,500 is in line with several similar properties in the area, as shown in the comparable list. It is significantly lower than some nearby renovated or larger homes, indicating this may be priced as a solid, unrenovated character home.
5. What is the neighbourhood like for amenities and investment?
Located in Inkster-Faraday, it is a mature neighbourhood with a mix of long-term residents and newer buyers. The rankings show the property sits in the middle range for the street and area, suggesting a stable, established community rather than a rapidly appreciating one.