Property Overview & Appeal
This 1978 bi-level home at 72 Hallet Street presents a practical opportunity in Winnipeg's North Point Douglas neighbourhood. Its key characteristic is a renovated basement, adding immediate functional living space to the 770 sq ft main floor. The lot is a significant asset, ranking in the top 3% in Winnipeg for size at 2,451 sq ft, offering ample outdoor potential in a city where larger lots are increasingly rare.
The appeal lies in its balance of an updated interior feature (the basement) and a blank-canvas lot in an established, central neighbourhood. It suits first-time buyers or practical investors looking for a foothold with room to grow, either inside or out. The very low assessed value suggests a potentially manageable property tax burden, which is a key, though less obvious, financial advantage. Buyers should be those comfortable with a home whose interior living space is compact, but who value the long-term potential of the land itself.
Frequently Asked Questions
Q: How does the renovated basement impact the living space?
A: The listing confirms a renovated basement, which typically adds functional square footage for utilities, storage, or additional living areas, making the home more practical than the main floor square footage alone suggests.
Q: The lot is large, but what does that mean for me?
A: A lot in the top 3% for size in Winnipeg offers exceptional outdoor space for gardening, recreation, or future expansion like a shed or deck. It's a long-term asset that provides flexibility many newer properties do not.
Q: The assessed value seems low. Does that indicate a problem?
A: Not necessarily. Assessed value for tax purposes doesn't equal market value. A lower assessment can be a benefit, indicating relatively lower property taxes. However, it's wise to understand why it's assessed this way through further research.
Q: Is the living area of 770 sq ft sufficient?
A: This depends on your needs. The main floor living area is compact, ranking in the top 10% of the neighbourhood, meaning many homes are larger. The renovated basement is crucial for making the overall layout workable for daily life.
Q: How does this home compare to others on the street?
A: The data shows a mix: this home is newer than 96% on the street but has less living area than 94% of them. It offers a more modern foundation in a street of predominantly older, sometimes larger, character homes.