Property Overview
This home at 765 Spruce Street in Winnipeg's Minto neighbourhood is a compact, nearly century-old property that presents a specific value proposition. Its key characteristics are defined by how it compares locally. The 708 sqft living area is notably smaller than most homes on its street, in Minto, and across the city. However, its assessed value is consistent with the local area averages. Built in 1928, it sits on a 2,410 sqft lot, which is smaller than typical lots in all comparison ranges. The property last sold between 200k–250k in 2016.
Key Characteristics & Appeal
The primary appeal of this home lies in its affordability and efficiency within an established neighbourhood. Its assessed value is squarely average for Minto, suggesting it's priced accessibly relative to its immediate surroundings, despite the smaller size. This creates an opportunity for buyers seeking a lower-cost entry point into the Winnipeg market or the area. The compact lot and home size translate to lower maintenance demands, both in terms of yard work and interior upkeep.
It would best suit first-time buyers, downsizers, or investors looking for a practical, no-frills property. A thoughtful perspective is that its smaller physical footprint and average local valuation could represent a stable, manageable holding in an urban area, insulated from the premium prices commanded by larger properties city-wide. It’s a home for those prioritizing location and budget over space.
Frequently Asked Questions
1. Is this a small house?
Yes. At 708 sqft, the living area is significantly below the average for the street (983 sqft), the Minto area (1,060 sqft), and the entire city (1,342 sqft). It is a compact, efficient layout.
2. Why is the assessed value so much lower than the city-wide average?
The city-wide average assessed value (approx. $390k) includes many larger, newer, or more premium homes. This property’s assessment (~$24.7k) is aligned with the averages for Spruce Street and the Minto neighbourhood, reflecting its more modest size, age, and local market conditions.
3. What does the lot size mean for potential expansion or gardening?
The 2,410 sqft lot is smaller than most in the area. While it provides outdoor space, opportunities for significant additions or expansions may be limited by lot coverage bylaws. It's suitable for a small garden or patio but not for extensive outdoor structures.
4. How can I find out the exact past sale price?
The public data shows a sale range of CA$200k–250k in 2016. To obtain the exact sale price, you can use the email request feature provided on the listing page. The service manually retrieves this data and aims to reply by the end of the same day.
5. How does the age of the home (1928) affect it?
Built 98 years ago, the home is older than the city-wide average. This typically means potential for character but also necessitates a thorough inspection for updates to major systems like wiring, plumbing, and insulation. Its age is fairly typical for its immediate neighbourhood.