Property Overview & Appeal
This home at 58 St Vital Road in Winnipeg's Norberry neighbourhood presents a specific and practical opportunity. Its key characteristic is its compact size, with a living area of 720 sqft, which is notably smaller than most homes on its street, in the area, and across the city. Built in 1943, it is also older than the local average. The assessed value of $229k is correspondingly below average for comparable properties, reflecting its scale and vintage.
The appeal lies in its affordability and efficiency. It suits first-time buyers, downsizers, or investors seeking a lower-cost entry point into the market. The lot size, while smaller than others on the street, is near the city-wide average, offering a manageable outdoor space without excessive upkeep. A thoughtful perspective is that this property represents a "value-play" in its area—owning a home here at a significantly lower assessed value than neighbours could mean lower property taxes, while still providing access to the established community. It’s a home for those who prioritize location and financial accessibility over square footage.
Frequently Asked Questions
1. Why is the assessed value so much lower than nearby homes?
The assessed value is primarily based on the home's smaller living area (720 sqft) and its older construction date (1943) compared to the larger, often newer homes in the immediate vicinity.
2. What should I consider due to the home's age?
As an 83-year-old home, a thorough inspection is essential. While it offers classic charm, budget for potential updates to major aging systems like plumbing, electrical, or the roof, and consider the efficiency of windows and insulation.
3. Is the lot size a disadvantage?
At 4,880 sqft, the lot is smaller than others on St Vital Road but is close to the Winnipeg average. It offers a manageable yard for gardening or relaxation without the maintenance demands of a much larger plot.
4. Who would this property not suit well?
It may not suit buyers needing multiple bedrooms, dedicated home office space, or those who entertain large groups frequently due to the compact living area. Growing families might find it restrictive.
5. How reliable is the sold price data shown?
The site notes that sold price data is from public sources, not the MLS, and is presented in a range. For fully verified and exact historical sale figures, you must request a manual lookup from the site via email.