Property Overview & Appeal
This home at 809 Spruce Street in Winnipeg's Minto neighbourhood presents a specific and practical value proposition. Its key characteristic is its compact size, with a living area of 712 sqft that is notably below average for the street, area, and city. Built in 1939, it sits on a roughly 3,180 sqft lot, which is typical for its immediate locale. The appeal lies in its efficiency and position as a potentially more accessible entry point into the market. With a recent sold price between $250k-$300k and a significantly lower assessed value, it may attract attention from buyers seeking lower property tax obligations relative to market value.
It would best suit first-time buyers, downsizers, or investors looking for a manageable, no-frills property where the investment is primarily in the land and location rather than extensive living space. A thoughtful perspective is that this home outperforms a significant majority of city-wide properties in terms of value, suggesting it offers a cost-effective footprint in Winnipeg. Its very average rankings on its own street for most metrics indicate it is a standard offering for this specific block, which can represent stability and predictability.
Frequently Asked Questions
1. Why is there such a large gap between the recent sold price and the assessed value?
Assessed values in Manitoba are set by the provincial authority for taxation purposes and often lag behind current market conditions. A sold price significantly higher than the assessment typically reflects strong market demand for the area or property type.
2. What does the "below average" living area ranking mean for me?
While the home is smaller than many others, this directly contributes to a lower purchase price and ongoing utility costs. It necessitates efficient use of space but can be ideal for those wanting a simpler, easier-to-maintain home.
3. The home was built in 1939. Should I be concerned about major repairs?
While the age suggests potential for older components like plumbing or wiring, the year built is actually around average or newer than many homes in the broader Minto area. A thorough home inspection is always recommended to understand the condition of these systems.
4. How does the lot size compare, and what are the implications?
At just over 3,000 sqft, the lot is standard for the neighbourhood. It provides adequate outdoor space for a garden or patio without the high maintenance of a much larger yard, striking a balance for urban living.
5. How can I find out the exact historical sold price?
The exact sold prices are not publicly displayed in detail due to local regulations. You can request the precise history by emailing the provided service; they manually provide the data without using your contact information for marketing.