875 Spruce Street

Property Overview: 875 Spruce Street, Winnipeg

Section 1: Key Characteristics & Appeal

This home at 875 Spruce Street in the Minto neighbourhood is a classic Winnipeg property that represents a straightforward, no-frills entry point into the market. Built in 1929, its 868 sqft living space and 3,181 sqft lot are very typical for its immediate street and area, placing it firmly in the middle of the pack locally. The appeal here is one of practicality and proportion. You’re not paying a premium for above-average size or a recently built home, but you’re also not getting an outlier that requires extra scrutiny. Its assessed value is consistent with neighbouring homes, suggesting it’s priced in line with community norms.

This property would suit a pragmatic first-time buyer or an investor looking for a stable, character-area home without unexpected extremes. It’s for someone who values being in a neighbourhood of similar, established homes over having a modern layout or a large yard. A thoughtful perspective is that its “average” standings locally could be a stability advantage; it’s less likely to be over-improved for the area or suffer from unusual valuation swings compared to more unique properties. The lot size offers standard potential for outdoor space in a mature city neighbourhood.

Section 2: Frequently Asked Questions

1. What does it mean that the home ranks “below average” city-wide in most categories?
This primarily reflects the nature of comparing a central, older neighbourhood home against the entire city, which includes vast suburbs with newer, larger homes on bigger lots. It’s an expected result and highlights the property’s character as a classic Winnipeg bungalow rather than a modern suburban house.

2. The assessed value is around $25k, but it sold for $250k-$300k in 2021. Why is there such a large difference?
The assessed value is for taxation purposes and is intentionally kept significantly lower than market value. The sale price from 2021 is the true indicator of its market value at that time.

3. Are there concerns with a house built in 1929?
While the age is not unusual for the area, it necessitates a focus during inspection on updates to major systems like wiring, plumbing, and insulation. The potential for character features comes with the responsibility of maintaining an older structure.

4. How does the lot size compare, and what does it allow?
At just over 3,000 sqft, the lot is standard for Minto. It provides adequate space for a garden, patio, or shed, but is not large enough for significant expansions or additions without careful planning and permits.

5. How can I get the exact historical sale price instead of the range shown?
The exact sale price is available by request. You can provide your email using the form on the property page, and the precise figure will be sent to you manually, typically by the end of the same business day.