Property Overview: 750 Spruce Street, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 750 Spruce Street in the Minto neighbourhood is a classic, compact property built in 1926. Its key characteristic is its modest scale: with 704 sqft of living space and a 2,530 sqft lot, it is notably smaller than most comparable homes on its street, in the area, and across Winnipeg. This is reflected in its assessed value of $24,300, which is around the average for Minto but well below the city-wide average.
The appeal lies in its position as an efficient, lower-cost entry point into the Winnipeg market. It suits first-time buyers, investors, or downsizers seeking a manageable property with minimal upkeep relative to larger homes. A thoughtful perspective is that its smaller physical footprint can translate to lower utility costs and property taxes, offering a simpler, more affordable living arrangement. Its "around average" assessment for the immediate area suggests it is priced appropriately within its local context, not overvalued. The home last sold between $300k-$350k in 2022, indicating its market value is significantly higher than its government assessment.
Section 2: Frequently Asked Questions
1. How does the small living area impact daily living?
At 704 sqft, the home is efficient but requires thoughtful space planning. It would suit individuals, couples, or those comfortable with compact, open-concept living. It is not designed for large families or those needing significant storage space.
2. Why is the assessed value so much lower than the recent sold price?
Municipal assessed value for taxation purposes often lags behind actual market value. The 2022 sale price ($300k-$350k) is the more current indicator of what buyers are willing to pay in the open market.
3. What are the implications of the home being 100 years old?
A century-old home has character but requires diligent maintenance. Prospective buyers should prioritize a thorough inspection to understand the condition of major systems like wiring, plumbing, and the foundation, and budget for potential updates.
4. Is the smaller lot size a disadvantage?
The lot is smaller than most, which limits expansive outdoor space but also reduces yard maintenance. It could be a practical fit for those who prefer minimal gardening or who prioritize location and interior space over a large yard.
5. How does this property compare to others in Minto?
The data shows this home is smaller and on a smaller lot than the Minto average. However, its assessed value is typical for the neighbourhood. This suggests you are paying primarily for location and a solid, no-frills structure rather than for square footage.