Property Overview & Key Characteristics
This one-storey home on Lisgar Avenue is a straightforward, no-frills property in North Point Douglas. Its primary appeal lies in its very low price point and the potential of its large, 2,890 sqft lot, which is significantly larger than most in the area. The house itself is compact at 520 sqft and retains its original 1940s character, including an unrenovated basement. There is no garage or pool.
This property would suit a specific type of buyer: an investor looking for a land-hold opportunity, a hands-on renovator seeking an affordable entry point into the market, or someone with a vision to build new on a sizable inner-city lot. Its value is almost entirely in the land. The low assessed value indicates it is not a move-in-ready home, but a project. A thoughtful perspective for a buyer is to consider the long-term trajectory of the North Point Douglas neighbourhood, which has seen incremental reinvestment, making this a potential long-term play rather than a quick flip.
Frequently Asked Questions
1. Why is the assessed value so much lower than nearby properties?
The assessed value is based on the property's current state. The very small, unrenovated living space and the home's age result in a low valuation, with the lot size being the primary asset.
2. Is this a move-in-ready home?
No. The listing notes an unrenovated basement and the overall metrics suggest the home requires significant updates or may even be a candidate for eventual replacement, making it suitable only for those prepared for a major project.
3. What are the real costs beyond the purchase price?
Buyers must budget for immediate repairs, potential systems updates (roof, wiring, plumbing), and bringing the basement up to code. Property taxes will be low initially but will likely increase with any renovation or new construction.
4. How does the lot size compare to others?
The lot is a key feature. At 2,890 sqft, it is in the top 17% on its street and top 15% in the neighbourhood for size, offering rare redevelopment space for the area.
5. What is the neighbourhood like?
North Point Douglas is a historic, inner-city Winnipeg neighbourhood with a mix of long-term residents and ongoing revitalization efforts. It offers proximity to downtown but comes with the typical challenges and opportunities of a core-area community.