Property Summary: 1127 Salter Street, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 1127 Salter Street in Margaret Park presents a compelling mix of space, value, and potential. Its key characteristic is an unusually large lot of nearly 7,000 square feet, placing it in the top 10% of properties in the neighbourhood for land area. This offers significant outdoor space and future potential that is rare for the area. Built in 1967, the house itself is newer than many on its street and in the wider community. With just over 1,000 square feet of living space, the home is practically sized, though its standout feature is its assessed value, which is notably higher than average for both Salter Street and Margaret Park, suggesting official recognition of its above-average lot and condition.
The appeal lies in this combination of a sizable, private yard in a mature neighbourhood and a home that is relatively modern within its context. It would suit a buyer looking for a solid starter home with room to garden or expand, or an investor who recognizes the long-term value of a large lot in an established area. It’s a property for someone who sees beyond the current structure to the inherent value of the land and its possibilities.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much higher than neighbouring properties?
The assessed value is likely elevated due to the combination of its large lot size and the fact the home was built more recently than many in the immediate vicinity. Assessment considers property characteristics, and these features make it stand out comparably.
2. How does the lot size compare to a typical city lot?
The lot is approximately 6,845 sq. ft., which is significantly larger than the average lot in Margaret Park (~5,139 sq. ft.) and city-wide (~6,570 sq. ft.). This is a primary asset of the property.
3. What does the sold price history indicate?
The home sold in the $250k-$300k range in both 2016 and 2019. This consistent price range over several years suggests a stable market value for the property during that period, prior to recent market shifts.
4. Is the living area smaller than average?
At 1,073 sq. ft., the living area is slightly below the current average for Margaret Park but is close to the city-wide average for comparable homes. The trade-off is the generous lot size, which is a less common find than additional interior square footage.
5. Who should request the exact sold price history?
The exact sold price is available by request. This is most useful for serious buyers or those conducting detailed financial analysis, as the provided price ranges give a clear market bracket for recent sales.