Property Overview
802 Spruce Street is a character home in Winnipeg's Minto neighbourhood, built in 1894. With 1,082 square feet of living space on a 3,065 sqft lot, it offers a compact and historically significant footprint. Its assessed value is notably lower than both recent sale prices and broader city averages, presenting a distinct profile in the market.
Key Characteristics & Appeal
This home’s primary appeal lies in its rarity and value proposition. As one of the oldest homes on its street and in the wider area, it offers authentic heritage charm that cannot be replicated in newer builds. The living space is practical and compares favorably to area averages, making it a comfortable size for a small household.
The property is particularly suited to specific buyers: those seeking a character home with renovation potential, first-time buyers or investors looking for an entry point into the market with a historically low assessed value, and individuals who value a established, central neighbourhood like Minto. Its last two sales (2019 and 2021) were in the $200k-$250k range, significantly above its current $22,900 assessment, which may indicate renovation work, market shifts, or an appeal that isn't fully captured by the formal valuation.
A less obvious perspective is the lot size. While below the city-wide average, the lot is quite standard for Minto and on Spruce Street itself. This suggests the home fits seamlessly within its immediate context, offering manageable outdoor space without excessive maintenance—a potential draw for those wanting a yard but not a large burden.
Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sale prices?
Property assessments in Manitoba are based on a mass appraisal system for taxation purposes and may not reflect current market value, especially for unique or older homes. The sale prices from 2019 and 2021 are likely more indicative of its market worth.
2. What are the considerations of owning a home built in 1894?
While full of character, a home of this age will likely have older building materials and systems. Prospective buyers should budget for potential updates and prioritize a thorough inspection to understand the condition of the foundation, wiring, plumbing, and insulation.
3. How does the living space compare to the neighbourhood?
At 1,082 sqft, the home is actually slightly larger than the average comparable home on Spruce Street (983 sqft) and in the Minto area (1,060 sqft). It offers a efficiently sized layout that is typical for the immediate locale.
4. Is the lot size a disadvantage?
The 3,065 sqft lot is very standard for the Minto neighbourhood and is around the average for the street. It provides a balanced space for a garden or patio without the high maintenance of a much larger city lot.
5. How can I get the exact historical sale prices?
The exact sold prices are not publicly displayed. You can request them directly via the "Get exact sold price history" form on the listing page. The service is manual, with a promise of a reply by the end of the same day and no unsolicited marketing use of your email.