Property Overview: 701 Strathcona Street, Winnipeg
Section 1: Key Characteristics & Appeal
This home, built in 1911, presents a classic character property with distinct practical advantages. Its primary appeal lies in offering above-average interior space (1,368 sq ft) within its immediate neighborhood and the broader Minto area, ranking in the top 14% locally. This makes it a notably spacious option compared to many nearby homes. The lot size is consistent with the area average, providing typical outdoor space.
The property’s assessed value is modest relative to the Winnipeg city-wide average, suggesting a potentially accessible entry point into the market. However, its age means prospective buyers should be prepared for the maintenance and potential updating that comes with a 115-year-old home. This combination suits buyers looking for more room in a central neighborhood without a premium price tag, particularly those who value character over modern construction and are realistic about the upkeep of an older house. It’s a practical choice for space-seekers, first-time buyers comfortable with a project, or investors interested in the area’s fundamentals.
Section 2: Frequently Asked Questions
1. Is the assessed value the same as the market value?
No. The assessed value (listed as $22,900) is for municipal tax purposes. The market value, or what a buyer would pay, is determined by current market conditions and can be significantly higher, as suggested by the 2021 sale price range of $150k-$200k.
2. What does the "Top 11%" ranking for living area mean?
It means this home’s interior square footage is larger than 89% of the 361 comparable properties on Strathcona Street. It’s a notably spacious home for its specific street.
3. The home is very old. Are there major concerns?
Any home from 1911 will require diligent inspection. Key focus areas should include the foundation, roof, wiring, plumbing, and insulation. Its age is reflected in the rankings, placing it in the older segment of homes locally and city-wide.
4. Why is the city-wide average assessed value so much higher ($390k)?
The city-wide average includes all property types and newer neighborhoods. This comparison highlights that this home is in a more established, centrally-located area where assessed values are typically lower, not necessarily reflecting desirability or livability.
5. How reliable is the sold price history shown?
The site provides a sold price range based on public data. To obtain the exact sale price, you must request it directly from them via email, as noted in their disclaimer.