Property Overview: 580 Ingersoll Street, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 580 Ingersoll Street in the Minto neighbourhood presents a specific and practical value proposition. Built in 1928, it is a compact, 744 sqft residence on a notably generous 3,475 sqft lot for its street—ranking in the top 14% locally for land size. This creates a clear contrast: the living space is modest and below average for the area, but the lot offers above-average outdoor potential.
Its primary appeal lies in its affordability and land value within an established community. With an assessed value significantly lower than the Winnipeg city average, it represents an accessible entry point into homeownership. The appeal is not in spacious interiors but in the opportunity it presents. It would suit a first-time buyer, an investor, or a downsizer comfortable with a smaller footprint who prioritizes lot size over square footage. A thoughtful perspective is recognizing this as a "land play" in a mature neighbourhood; the value is disproportionately in the property itself, offering room for expansion, gardening, or future outdoor living—options that are often scarce at this price point.
Section 2: Frequently Asked Questions
1. Is the living area suitable for a family?
At 744 sqft, the living space is compact. It would best suit a small household, a couple, or a single individual. Families would need to be comfortable with efficient use of space or consider the potential for future expansion, given the lot size.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value of $24,900 reflects the home's smaller size, age, and specific local market conditions in Minto. It is actually above average for Ingersoll Street itself. The dramatically higher city-wide average includes much larger, newer homes in different areas, so the comparison is between very different property types.
3. What does the lot size mean for me?
A 3,475 sqft lot is a significant asset for a home of this size and vintage. It provides ample yard space, which is a relative rarity. This allows for private outdoor space, gardening, storage, or even the structural possibility of an addition (subject to zoning and permits).
4. How does the sale history inform the current value?
The home sold between $200k-$250k in 2016. This historical price, significantly above the assessed value, indicates that the market price is driven by broader factors than assessment alone. It’s essential to get a current market evaluation to understand today’s value.
5. What should I consider about a home built in 1928?
Homes of this age possess character but require diligent attention to aging components. A thorough inspection is crucial to understand the condition of the foundation, roof, plumbing, electrical systems, and insulation. Budgeting for maintenance and updates should be part of the planning process.