Property Overview: 626 Lanark Street, Winnipeg
Key Characteristics & Appeal
This well-situated one-storey home in the J.B. Mitchell neighbourhood presents a solid opportunity. Built in 1955, its key appeal lies in its above-average proportions and strong standing within its local context. The living space (1,593 sq ft) is notably larger than most comparable homes on its street and in the area, offering more room than typical for its style. This is complemented by a generous, above-average lot of 6,598 sq ft, providing valuable outdoor space and potential.
The home’s renovated basement adds functional living area, and the detached garage offers flexible storage or workshop space. From an investment perspective, the property consistently ranks in the top tiers for both size and assessed value when compared to its immediate peers on Lanark Street and within J.B. Mitchell, suggesting it is a premium offering in its specific locale.
This property would suit a buyer looking for a character home with ample indoor and outdoor space, who values a neighbourhood setting where the home stands out for its size. It’s also a sensible choice for a pragmatic investor or homeowner who appreciates a property that metrics show has historically performed well against its direct competition.
Frequently Asked Questions
1. How does this home truly compare to others in the area?
The data indicates this home is a standout in its immediate vicinity. It ranks in the top 17% for living area and top 15% for assessed value on its own street, meaning it is consistently larger and valued higher than the majority of its closest neighbours.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope or finish. This is a key detail to clarify with the seller or listing agent to understand if it’s a finished living space, a modernized utility area, or something in between.
3. Is the assessed value the same as the market value?
No. The provided assessed value ($51.80k) is for municipal tax purposes. The last recorded sale was between $39.5k-$42.5k in 2017. Market value is determined by current conditions and would be established through a professional appraisal or recent comparable sales.
4. What are the implications of a 1955 build year?
While the home is of average age for its area, a 1955 build means potential buyers should budget for updates to major aging components (like plumbing, electrical, or the roof) and consider an inspection to assess the condition of these systems.
5. How can I get the exact historical sale price?
The exact sale price is not publicly displayed. As noted on the detail page, you can request it directly via email from the source site. They state they provide the accurate figure manually, typically by the end of the same day, without using your email for unsolicited marketing.