Property Overview
590 Ingersoll Street is a 720 sqft home built in 1927, situated on a larger-than-average 3,416 sqft lot in Winnipeg's Minto neighbourhood. With an assessed value of $250,000, it presents a specific value proposition defined by its contrasts.
Key Characteristics & Appeal
The primary appeal of this property lies in its balance of space and value within its immediate context. While the living area is notably compact compared to most homes in the city, it occupies a lot that is significantly larger than many on its own street. This creates a unique opportunity for expansion, gardening, or simply enjoying more outdoor space—a rare find for the price point in the area.
Its assessed value is above average for Ingersoll Street, suggesting it is viewed as a well-maintained or updated property among its direct peers. The home last sold between $200k-$250k in 2020, indicating a stable value trajectory. This combination suits practical, value-conscious buyers such as first-time homeowners, downsizers, or investors looking for a character home with land potential. It’s less suited for those requiring substantial interior space immediately, but ideal for someone who prioritizes lot size and sees potential in a home’s footprint over its current square footage.
Frequently Asked Questions
1. Is the house small compared to others?
Yes. At 720 sqft, the living area is below average for the street, neighbourhood, and especially the wider city. This indicates a compact, likely efficient layout.
2. Why is the assessed value relatively high for the size?
The $250,000 assessment is above average for Ingersoll Street. This often reflects factors like updates, condition, or the premium value of its larger lot, which is in the top 16% on the street.
3. What can I do with such a large lot?
The 3,416 sqft lot offers valuable flexibility. Potential uses include adding a garage, creating extensive garden beds, building an addition (subject to zoning), or simply having more private outdoor space than neighbouring properties.
4. How does the 2020 sale price relate to today’s value?
The home sold for an estimated $200,000–$250,000 in 2020. The current assessed value at the top of that range suggests a stable or slightly appreciating market perception for the property since then.
5. What does the "below average" city-wide ranking mean?
Most metrics rank below average compared to the entire city because this is an older, central neighbourhood with smaller, character homes. This is typical and reflects a different market segment than newer suburban developments with larger modern homes.