Property Overview
This home at 196 Notre Dame Street in Winnipeg's North St. Boniface neighbourhood is a compact, century-old property that presents a specific value proposition. Its key characteristic is its modest 640 sqft living area, which is notably smaller than most homes on its street, in the area, and across the city. Built in 1926, the house sits on a roughly 4,000 sqft lot, which is closer to the average for the immediate street. With a current assessed value of $226k, it is positioned below the average assessed value for its surrounding area and the wider city, reflecting its size and vintage.
Its appeal lies in its accessibility. It represents a lower price point to enter the market, particularly in a central and historic area like St. Boniface. The lot size offers potential for outdoor space or future expansion, subject to regulations. This property would suit first-time buyers or investors seeking a manageable, entry-level asset with a focus on location over square footage. It may also appeal to those looking for a minimalist footprint or a renovation project, given its age and smaller interior scope.
Frequently Asked Questions
1. Why is the assessed value significantly lower than area averages?
The primary reason is the home's living area, which is approximately half the size of the average home in North St. Boniface. Assessed value heavily factors in building size, age, and characteristics, so the compact footprint results in a proportionally lower valuation.
2. What does the "Sold 8/2021 CA$200k–250k" price indicate?
This shows the property was last sold in August 2021 for an amount within that range. It provides a recent market reference point, suggesting the current assessed value of $226k is in a plausible historical range. Exact sale prices require a manual request through the site.
3. Is the 4,035 sqft lot a positive feature?
Yes, especially relative to the home's size. The lot is more aligned with the street average and provides a good ratio of outdoor to indoor space. For the right buyer, this land represents future potential, whether for gardening, adding a deck, or exploring expansion possibilities, which are less common on tiny lots.
4. What should I consider about a home built in 1926?
While offering classic charm, a home of this age will likely require diligent maintenance and updates to mechanical systems like wiring, plumbing, and insulation. A thorough inspection is essential to understand the condition and any needed investments, which should be factored into the overall budget.
5. How does this property compare to others on the same street?
The data shows it is smaller and older than most homes on Notre Dame Street. However, its assessed value ranks higher (top 75%) on the street than its size does (top 96%), suggesting its specific lot and location on the street are recognized as compensating factors in its valuation.