Property Overview: 505 Notre Dame Street, Winnipeg
Key Characteristics & Appeal
This home at 505 Notre Dame Street in North St. Boniface presents a practical, value-oriented opportunity. Built in 1948, it's a modestly sized bungalow with 882 square feet of living space, situated on a 3,542 sqft lot. Its assessed value of $311,000 is notably reasonable for the city, sitting below both the area and city-wide averages.
The primary appeal lies in its financial positioning. For a buyer, it represents a chance to enter a well-established neighbourhood without the premium price tag often associated with larger lots or newer homes. It suits first-time buyers, downsizers, or investors seeking a lower entry point with renovation potential. A thoughtful perspective is that its smaller lot and footprint translate to lower maintenance costs and less upkeep—an advantage for those seeking simplicity. While the home is compact compared to area averages, its value ranking is strong on its own street, suggesting it's a solid performer within its immediate, more relevant peer group.
Frequently Asked Questions
1. How does the property's value compare to recent sales?
The home sold in April 2020 for an estimated $250k-$300k, which aligns closely with its current $311k assessment. Its previous sale in 2019 was significantly lower, indicating substantial equity growth over that period.
2. Is the lot size a disadvantage?
While the lot is below average for the area, it offers a manageable yard. This can be a benefit for those who want outdoor space without extensive gardening or lawn care responsibilities.
3. What does the "below average" living area ranking mean for daily life?
The home's living area is smaller than many in Winnipeg. It will suit individuals, couples, or small families comfortable with a more compact, efficient layout. The trade-off is often a lower purchase price and utility costs.
4. How reliable is the sold price data shown?
The sold price ranges are based on public data, not the MLS. For fully verified, exact sale figures, you must request a manual lookup via email from the site.
5. The home is older—what should I consider?
Built in 1948, the property is older than most city-wide homes. A thorough inspection is essential to understand the condition of major systems (roof, plumbing, electrical) and to budget for any updates or maintenance typical of a home of this age.