Property Overview & Key Characteristics
This 1942 one-storey home in Winnipeg's Minto neighbourhood presents a classic, no-frills opportunity. Its primary appeal lies in a solid foundation: a larger-than-average lot (3,648 sq ft) that ranks well within the city, paired with a recently renovated basement that adds functional space. The detached garage is a practical asset. With a modest 768 sq ft of living area, the home is compact and manageable.
The property suits first-time buyers or practical investors looking for an entry point into the market with a clear, value-oriented project. Its strong rankings for lot size and newer build year (for its age) within Minto suggest it's a competitively positioned asset in the area. A thoughtful perspective is that this home represents a "blank canvas" on a desirable piece of land; its value is tied more to its potential and location than its current footprint. It’s for a buyer who sees the renovated basement as a head start and the lot as long-term potential, rather than someone seeking immediate move-in perfection or ample above-ground space.
Frequently Asked Questions
1. Is the house itself or the land the main draw here?
The data suggests the land is a significant feature. The lot size ranks in the top 21% across all Winnipeg, which is exceptional, while the living area is quite compact. This indicates the property's value is heavily weighted toward its land parcel.
2. What does the "renovated basement" likely entail?
While specifics aren't provided, in a home of this era and profile, a renovated basement typically means it has been finished into a usable living space, such as a rec room or additional bedrooms, and likely includes updated essentials like flooring, walls, and ceiling. It's a key source of added functional space.
3. Who would this neighbourhood, Minto, appeal to?
Minto is a central, established Winnipeg neighbourhood. The listing shows several comparable, modestly assessed homes nearby, indicating a community of similar, value-driven properties. It appeals to those seeking accessibility and a straightforward, unpretentious community feel.
4. How should I interpret the assessed value compared to the listing price?
The assessed value ($24,200) is for municipal tax purposes and is typically lower than market value. The comparable nearby properties with similar assessed values (ranging from ~$23k to $28k) give a baseline for the area's tax valuation, but the final sale price will be determined by current market conditions, the home's specific state, and its unique lot size.
5. What are the immediate compromises with a home like this?
Buyers should be prepared for the limited main-floor living area (768 sq ft) characteristic of older, one-storey plans. While the basement adds space, the above-ground layout will be compact. Updates to the original 1942 structure (like kitchen, bathroom, windows, or systems) may be needed depending on the level of modernization already completed.