Property Overview: 116 Hill Street, Norwood East, Winnipeg
Key Characteristics & Buyer Appeal
This is a compact, character home built in 1940, offering a straightforward entry point into Winnipeg’s established Norwood East neighborhood. Its primary characteristic is its modest 709 sqft living area, which is notably smaller than average for the street, area, and city. This translates to a manageable scale, likely requiring efficient use of space, but also lower utility costs and less maintenance.
The appeal lies in its value positioning and location. With an assessed value of $308k, it sits around the average for its immediate area, suggesting a fair market entry price for the neighborhood. The lot size is also typical for the street, offering standard outdoor space. Its last recorded sale fell between $250k-$300k, reinforcing its position as a relatively affordable option in the city-wide context, where it ranks in the top 68% for value.
This property would best suit first-time buyers, downsizers, or investors seeking a lower-priced asset in a mature community. It’s for those who prioritize location and affordability over square footage, and who may see potential in a smaller, classic home that is easier to maintain and heat. A thoughtful perspective is that a home of this size and era often fosters a simpler, more intentional lifestyle, free from the upkeep of larger, modern floorplans.
Frequently Asked Questions
1. Is the living area too small?
At 709 sqft, the home is significantly smaller than the area average. It will require efficient furniture choices and organization. It suits individuals, couples, or those comfortable with compact living, but may feel cramped for a growing family.
2. How does the assessed value compare to likely selling price?
The assessed value is $308k. The home last sold for an estimated $250k-$300k in late 2022. While assessments are a guideline, the recent sale history suggests a market price likely in a similar range, potentially offering value compared to the city-wide average.
3. What are the benefits of the Norwood East location?
Norwood East is a long-established neighborhood with mature trees and a central Winnipeg location. It typically offers good access to amenities, parks, and routes into downtown, providing convenience in a settled community.
4. What should I consider about a home built in 1940?
Homes of this age offer charm but may require attention to aging components like plumbing, electrical, windows, and insulation. A thorough inspection is essential to understand the condition and potential update costs.
5. How can I find out the exact past sale prices?
The site provides sold price ranges for reference. To obtain fully verified, exact historical sale figures, you must request a manual lookup via email, as this data is not sourced from the MLS system.