Property Overview & Appeal
This home at 484 London Street in Winnipeg's Munroe East neighbourhood presents a specific value proposition centered on its generous lot. The 948 sqft house, built in 1959, is modest in size and age compared to many local and city-wide averages. However, its primary asset is a 6,046 sqft land area, which is notably larger than most lots on its street and in the broader area. This creates a clear contrast: a smaller, older home on a spacious parcel of land.
The appeal lies in this potential. It suits a buyer comfortable with a home that may require updates, but who prioritizes outdoor space for gardening, recreation, or future expansion. It’s a practical entry point into homeownership in a mature neighbourhood, where the value is anchored more in the land than the existing structure. The assessed value is solid for the area, suggesting a stable, no-frills investment. This property would best suit a handy buyer, an investor looking for a land-value play, or a first-time purchaser willing to trade interior square footage for a larger yard.
Frequently Asked Questions
1. Is the house in need of major renovation?
Given its 1959 build date—older than most on its street—some updates are likely. Prospective buyers should budget for modernizations, though the solid assessed value indicates a structurally sound foundation.
2. Why is the assessed value so much lower than the city-wide average?
The city-wide average includes homes of all types, sizes, and newer neighbourhoods. This assessment reflects the home's smaller size, age, and its specific local market in Munroe East, which is actually above average for the area.
3. What are the real advantages of the larger lot?
Beyond extra yard space, a larger lot in an established neighbourhood offers rare potential for additions, a detached garage, or landscaping projects that wouldn't be possible on a standard lot. It provides flexibility and a sense of privacy.
4. How does the last sold price compare to today's value?
It last sold between $250k-$300k in 2016. Market conditions have changed since, so this provides a historical baseline, but a current appraisal or comparative market analysis is needed to determine today's value.
5. How can I get the exact historical sold prices?
The exact sold prices are not publicly displayed. You can request the precise history via email from the listing service, which provides the information manually without marketing spam.