Property Overview
848 Spruce Street is a 871 sqft home built in 1941, situated on a 3,059 sqft lot in Winnipeg's Minto neighbourhood. With an assessed value of $280,000, it presents a specific value proposition within its local context. The home last sold for an estimated $350k–$400k in 2022.
Key Characteristics & Appeal
This property stands out for its strong position within its immediate area. Its assessed value ranks in the top 23% on its street and in the Minto area, indicating it is considered a higher-value home among its closest peers. However, its living space is modest, ranking around the middle locally but below the city-wide average. This creates an interesting dynamic: you are acquiring a home that holds above-average worth on its block, yet with a smaller, more manageable footprint.
Its appeal lies in this efficient scale. It suits buyers looking for a solid entry into a neighbourhood without the upkeep of a larger house, or perhaps those downsizing. The lot size is also fairly typical for the area, offering outdoor space without being overwhelming. A thoughtful perspective is that this property represents "location value" over sheer size—its worth is tied more to its spot in Minto than to its square footage. It would suit a pragmatic first-time buyer, an investor seeking a character home with established value, or someone wanting a lower-maintenance property in a central neighbourhood.
Frequently Asked Questions
1. Why is the assessed value relatively high for a smaller home?
The assessment reflects the property's market value as determined by the city, considering factors like location, lot, and building condition. Its ranking in the top 23% locally suggests it is viewed favorably compared to neighbours, possibly due to updates, condition, or its specific position on the street.
2. How does the 2022 sale price relate to the current assessed value?
The home sold for an estimated $350k–$400k in 2022. The current assessed value of $280k is typically lower, as municipal assessments for tax purposes can lag behind actual market sale prices and use a different valuation methodology.
3. What should I consider about a home built in 1941?
While the building's age is average for the street, a home from this era may have original features and character. A thorough inspection is recommended to understand the condition of major systems like wiring, plumbing, and the foundation, which may require updates or maintenance.
4. The lot seems smaller than the city average. Is that a concern?
The 3,059 sqft lot is very typical for the Minto area and on Spruce Street. It provides a standard yard space for the neighbourhood. It's only below average when compared to the entire city, which includes newer suburbs with larger lots. For this location, the lot size is normal.
5. How can I find out the exact past sale price?
The exact sale price is not publicly displayed in detail due to data privacy practices. You can request it by email via the "Get exact sold price history" button on the listing page. The service aims to provide the accurate figure manually without using your email for marketing.