Property Overview: 664 Spruce Street, Winnipeg
Key Characteristics & Appeal
This home, built in 1913, presents a classic character property with a practical layout. Its primary appeal lies in offering above-average interior space for its immediate neighbourhood. With 1,224 square feet of living area, it ranks within the top 17% of homes on Spruce Street for size, providing more room than many nearby properties. The lot, at 2,604 sqft, is manageable and typical for the Minto area.
The property suits buyers looking for a home with historic charm in an established neighbourhood, who prioritize interior space over a large yard. Its assessed value is notably lower than the Winnipeg city average, which may indicate a different value proposition compared to newer suburbs. A thoughtful perspective for a buyer is to see this as a home that offers more "house" for the money within its own community, rather than comparing it directly to newer city-wide stock. It would likely attract practical first-time buyers, downsizers seeking a manageable lot, or investors interested in the Minto area, provided they are prepared for the maintenance considerations of a 113-year-old home.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
Assessed value for taxation purposes is not the same as market value. This figure reflects the property's value relative to others in its assessment category and area. The significant difference from the city-wide average highlights that this is an older home in a mature neighbourhood, not directly comparable to newer construction in different market segments.
2. How does the recent sold price (2023, CA$200k–250k) relate to the assessed value?
The sold price range from 2023 is a market-driven figure and is substantially higher than the assessed value. This is common, as assessed values often lag behind current market conditions and are calculated for a different purpose. The sold price gives a more accurate picture of the home's recent market worth.
3. What should I consider with a home built in 1913?
While offering character, a home of this age will likely have older systems (plumbing, electrical, heating) and require diligent maintenance. A thorough, professional home inspection is essential to understand the condition of the foundation, structure, and updates. Potential for charm is high, but so is the need for a careful review of its modern functionality.
4. The living area is above average for the street, but the lot is below average. What does this mean?
This suggests the home makes efficient use of its parcel, possibly with a larger footprint or multiple stories. It's a trade-off: you get more interior space but a smaller outdoor area compared to some neighbours. This can be a benefit for those who prefer less yard maintenance.
5. How can I get the exact historical sold price instead of a range?
The exact sold prices are not publicly displayed due to data sourcing. You can request the precise figure by emailing the provided service. They manually provide this information, typically by the end of the same day, without using your email for unsolicited marketing.