Property Overview: 690 Lanark Street, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated home in Mathers presents a solid, above-average offering in several key metrics. Built in 1957, the property stands out for its generous 6,600 sqft lot, which is notably larger than many of its neighbours and places it in the top 20% locally. The 1,456 sqft living area is also comfortably above the average for both the street and the neighbourhood. With an assessed value of $470,000, it ranks consistently above average across street, neighbourhood, and city-wide comparisons, suggesting a property that holds its value well within its context.
The primary appeal lies in its established setting and the space it offers—both inside and out. It suits buyers looking for a home with room to breathe and potentially expand in a mature area, without venturing into the premium price tier of newer developments. It’s an ideal match for a growing family, a buyer who values a larger yard for gardening or recreation, or an investor seeking a stable property in a consistent neighbourhood. A thoughtful perspective is that while the home is from the late 1950s, its above-average rankings in size and value indicate it may have been well-maintained or updated over time, offering a balance of character and practicality.
Section 2: Frequently Asked Questions
1. How current is the assessed value, and what does it mean for property taxes?
The assessed value of $470,000 is the latest municipal valuation for taxation purposes. While it’s a strong indicator of municipal perception and places the home above average for the area, it is not the same as market value. Taxes are calculated based on this assessment and the annual municipal tax rate.
2. The home sold between $300k–$350k in 2020. Why is the assessed value now $470k?
This increase reflects broad market appreciation over the past five years, as well as the city’s assessment process. The current assessed value aligns it with similar homes now valued around $470k in other neighbourhoods like Elmhurst, indicating a general upward trend.
3. What does the "above average" ranking for lot size actually mean?
With a 6,600 sqft lot ranking in the top 14% on Lanark Street, this property has a significantly larger yard than most direct neighbours. The average lot on the street is about 5,887 sqft, giving this home over 700 sqft of additional outdoor space.
4. Is a 1957-built home a concern for major repairs?
While the home is nearly 70 years old, its year built ranks above average for its street, meaning many nearby houses are older. This suggests the area is established and stable. A pre-purchase inspection is always recommended to evaluate the condition of major systems like plumbing, electrical, and the roof.
5. How can I find out the exact historical sale price?
The precise sale price is not publicly listed in detail. You can request it directly via the "Get exact sold price history" feature on the listing page. The service provider will manually retrieve and email the accurate figure, typically by the end of the same business day.