801 Spruce Street

Property Overview

801 Spruce Street is a compact, character home in Winnipeg's Minto neighbourhood. Built in 1929, it presents an opportunity for a specific type of buyer drawn to its practical and financial profile.

Key Characteristics & Appeal

The home’s primary characteristic is its modest scale, with 741 sqft of living space on a 2,410 sqft lot, placing it well below average in size for the street, area, and city. Its assessed value is notably low at $21.7k, which is a defining feature. This combination suggests a property that is likely one of the most accessible entry points into homeownership in the city. Its appeal lies not in space or modern amenities, but in fundamental utility and affordability.

It would suit a highly budget-conscious first-time buyer, an investor looking for a straightforward rental property, or someone seeking a minimal footprint with very low property taxes. A less obvious perspective is that a home of this age and scale in this price range often represents a "blank canvas" property—its true value will be determined by the cost of necessary updates versus the potential of the lot and location.

Frequently Asked Questions

1. Why is the assessed value so much lower than the last sold price?
The assessed value ($21.7k) is for municipal tax purposes and is not a market valuation. The market price, reflected in the 2023 sale of $200k-$250k, is determined by what buyers are willing to pay.

2. What does the ranking data (e.g., "Top 77%") actually mean?
For living area, "Top 77%" means this home's square footage is greater than 77% of comparable homes on Spruce Street. In simpler terms, it is smaller than most. A high percentage rank for metrics like land area or value often indicates the property is below the area average.

3. Is the 2023 sale price a reliable indicator of current value?
It is a recent and relevant data point, but market conditions can change. For a precise current valuation, consulting a local real estate professional for a comparative market analysis is recommended.

4. What should I consider given the home's age (97 years)?
Homes from this era have charm but require diligent inspection. Budgeting for potential updates to essential systems (plumbing, electrical, heating) and the building envelope (roof, windows, insulation) is crucial.

5. How can I find out the exact historical sold prices?
The exact sold prices are not publicly displayed in detail. As noted on the listing, you can request this information directly via email from the service, which provides the data manually.