Property Summary: 104 Lisgar Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home, built in 1906, is a property of notable contrasts and solid potential. Its key characteristic is its generous 2,040 sqft living area, which ranks in the top 10% for size within its North Point Douglas neighbourhood and the top 9% citywide, offering substantial space for the price point. The lot is also a comfortable 3,249 sqft. The home presents as a classic fixer-opportunity, featuring an unrenovated basement and no garage. Its appeal lies in its foundational stats: significant square footage, a large lot, and a very recent sale in March 2024, suggesting a motivated seller. The extremely low assessed value highlights a significant gap between its official valuation and market price, which can be appealing for certain investment or renovation strategies.
This property would best suit a hands-on buyer looking for a project—whether a renovator aiming to add value, an investor comfortable with the neighbourhood's dynamics, or a large household needing ample room to grow into over time. A less obvious perspective is its appeal to those interested in Winnipeg's architectural history, offering a chance to restore a century-old home. Its size ranking suggests it's a relative standout on its street, potentially offering more privacy and space than immediate neighbours.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sale price?
This is common for properties that have not been recently renovated or where the official assessment hasn't caught up to area market shifts. It often indicates the buyer is paying for the building's potential and land value rather than its current finished condition.
2. What does "unrenovated basement" typically imply?
It usually means the basement is in original or utilitarian condition, likely lacking modern finishes. It may be suited for storage or laundry, but would require significant work to become a comfortable living space. Buyers should budget for potential updates to plumbing, electrical, or moisture control.
3. The home is 120 years old. What should I be most concerned about?
Key priorities for a viewing would be the foundation integrity, the state of the roof, original wiring (knob-and-tube may be present), and plumbing. A thorough inspection is essential to understand the scope of any needed updates.
4. How does the lack of a garage affect value and livability here?
In this neighbourhood and price bracket, the absence of a garage is common. It keeps the purchase price lower but is a practical consideration for vehicle security and winter convenience. The lot size may allow for adding a garage or secure parking in the future, subject to permits.
5. The home sold very recently. Why is it back on the market?
While the specific reason isn't listed, quick resales can sometimes indicate an investor's flip, a change in the buyer's circumstances, or a property purchased for renovation. It's a reasonable question to ask the listing agent for clarification.