Property Overview: 124 Grove Street, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 124 Grove Street in North Point Douglas presents a compelling mix of space, value, and potential. Its primary appeal lies in its significant scale relative to its immediate neighbourhood. With over 2,000 square feet of living area, it ranks in the top 10% of homes on its street and in North Point Douglas for size. This is complemented by an exceptionally large lot of approximately 6,700 square feet, which is in the elite top 5% for the area, offering rare potential for gardens, expansion, or outdoor living.
Built in 1952, it is a more modern structure compared to many area homes, potentially meaning fewer concerns associated with century-old properties. The assessed value of $258k is notably higher than the local average, reflecting its above-average size and lot, but remains well below the city-wide average home value. This creates an interesting dynamic: it's a premium property within its own community but positioned as a value proposition when viewed from a broader Winnipeg perspective.
This property would suit a buyer looking for maximum space and land in an established neighbourhood without a premium city-wide price tag. It’s ideal for those who value generous indoor and outdoor room over a prestigious postal code. It could appeal to extended families, creative individuals seeking space for a workshop or studio, or investors recognizing the inherent value of a large lot in a transitioning area. The data suggests it’s a standout home on its block, offering a sense of substance and privacy that is uncommon for the price point.
Section 2: Frequently Asked Questions
Q: How does the assessed value compare to the recent sold price?
A: The home sold in February 2022 for a price between $300,000 and $350,000. The current assessed value is $258,000. It's important to note that assessed value is for tax purposes and can differ from market value, which is influenced by current conditions.
Q: What does the lot size actually mean for me?
A: At 6,737 sq. ft., the lot is nearly double the average for North Point Douglas. This isn't just about a bigger yard; it offers tangible opportunities like adding a garage, creating distinct garden zones, or providing significant buffer space from neighbours, which is rare in central neighbourhoods.
Q: The home is newer than many nearby, but what does "built in 1952" imply?
A: While newer than many heritage homes in the area, a 1952 build still requires a thorough inspection. This era may have updates like modern electrical wiring (compared to knob-and-tube) but could also have original components, like plumbing or windows, nearing the end of their lifespan.
Q: The city-wide assessed value ranking seems low. Is that a concern?
A: Ranking in the top 81% city-wide means the value is below the Winnipeg average. This isn't necessarily a negative; it highlights the neighbourhood's affordability. You are acquiring a property that is premium for its specific area at a price point that sits below the city's median, which can be seen as a strategic entry point.
Q: How can I verify the exact historical sold price?
A: The provided sold price is an estimated range from public data. For fully verified figures and a complete transaction history, you must request a manual lookup from the site via email, as they do not display MLS sold records directly.