Property Overview: 754 Spruce Street, Winnipeg
Key Characteristics & Appeal
This home at 754 Spruce Street in the Minto neighbourhood presents a practical and affordable entry point into the Winnipeg market. Built in 1927, it is a character home with a compact 832 sqft layout, which is reasonably sized for the immediate area but modest compared to the wider city average. The lot is also smaller than most in the city at 2,533 sqft. Its primary financial appeal lies in its relatively low assessed value of $220k, which is significantly below city-wide averages. Recent sales data shows solid appreciation, with the home selling in the $250k-$300k range in 2024, up from the $200k-$250k range in 2017.
The property suits first-time buyers or investors seeking a lower-cost holding with historical character. Its appeal is grounded in value and location within an established community, rather than size or modern amenities. A thoughtful perspective is that its smaller scale can mean lower maintenance costs and utility bills, which is a practical advantage. It represents a "right-sized" option for those who prioritize a manageable footprint and neighbourhood integration over expansive square footage.
Frequently Asked Questions
1. Is the assessed value the same as the market value?
No. The assessed value of $220k is for municipal tax purposes. The most recent sale in 2024 was between $250k and $300k, which is a better indicator of its current market value.
2. How does the size of this home compare to others?
At 832 sqft, the living area is around average for Spruce Street and the Minto area but is below average for the City of Winnipeg as a whole. It’s a compact, efficient layout.
3. What does the sold price history tell us?
The home sold between $200k-$250k in 2017 and between $250k-$300k in 2024. This indicates a trend of appreciation over that seven-year period.
4. The lot seems small. Is that a concern?
The 2,533 sqft lot is smaller than many in the city, which typically means less outdoor maintenance. It’s a trade-off that contributes to the home's affordability and may be suitable for those not seeking extensive yard space.
5. How can I find out the exact sold price?
The exact sale prices are not publicly displayed. You can request them by email via the button provided on the listing page; the service aims to provide the accurate figure by the end of the same day.