Property Overview: 602 Balmoral Street, Winnipeg
Key Characteristics & Appeal
This home at 602 Balmoral Street in Spence presents a compelling mix of space, value, and character. Its primary appeal lies in offering significantly more interior space than most area homes, within a historically rich streetscape.
The 2,222 sqft living area is a standout feature, ranking in the top 7% for the Spence neighborhood and the top 6% city-wide, offering roominess uncommon for the area. Built in 1955, it is a notably newer construction compared to its immediate neighbors, where the average home was built around 1906. This suggests potentially fewer concerns with aging infrastructure common to century-old houses, while still residing on a street full of historic character.
With an assessed value of $364,000, it sits in an interesting position: it’s an elite, top 2% value for the Spence neighborhood, yet remains around the average mark city-wide. This indicates you are acquiring a premium property for the area at a price that aligns with the broader Winnipeg market. The lot size is typical for the street but smaller than the city average, focusing the value on the dwelling itself.
This property would suit a buyer looking for a spacious, mid-century home without a lengthy commute, who values being a large, modern home within a historic context. It’s ideal for someone who prioritizes interior space over a large yard and appreciates the stability and potential value advantage of owning one of the newer and larger homes in a well-established neighborhood.
Frequently Asked Questions
1. How does the 1955 build year affect this home compared to its neighbors?
Being built nearly 50 years later than the street average often means updated construction methods, electrical, and plumbing systems. This can translate to lower immediate repair costs and different architectural features than the surrounding heritage-style homes.
2. The assessed value is in the top 2% for Spence but only average city-wide. What does this mean?
This highlights that property values in Spence are generally lower than in many other Winnipeg neighborhoods. You are purchasing a home that is considered high-end for its immediate area at a price point that is median for the entire city, which can be seen as acquiring more house for your money within this specific location.
3. Is the smaller lot size a concern?
The lot is above average for Spence but below the Winnipeg average. This is typical for central, established neighborhoods. It means less yard maintenance but also less private outdoor space. The value here is concentrated in the living area of the home itself.
4. What might the "Elite" year-built ranking on the street indicate about future upkeep?
While newer than its neighbors, a 71-year-old home still requires diligent maintenance. However, this ranking suggests that compared to the other homes on Balmoral Street, major foundational or structural renewals associated with very early 1900s construction may be less of an immediate concern.
5. How can I get precise historical sale price data for this property?
The provided data does not include MLS sale records. To obtain the full transaction history and exact sale figures, you must request a manual lookup via email through the site’s "Data notes" section. The service is free, and they promise to provide the exact data without using your email for marketing.