Property Overview & Appeal
This one-storey home on a large 5,000+ sqft lot presents a specific and compelling value proposition. Its key characteristic is the significant contrast between its modest 600 sqft living area—which ranks in the top 1% for size in Winnipeg, meaning it's among the smallest—and its substantial, detached lot. The recently renovated basement adds functional living space. Built in 1922, it sits in the St. John's neighbourhood and sold for $150,000 in early 2024, closely aligning with its $160,000 assessed value.
The appeal lies in its affordability and lot potential. It suits a practical, value-driven buyer: a first-time homeowner comfortable with a cozy footprint, an investor looking for a property with a strong land-to-structure ratio, or someone seeking a manageable property with a large outdoor space for gardens, pets, or future expansion. A less obvious perspective is that its "top 1%" ranking for small size is actually a benefit for those seeking lower utility costs and minimal upkeep. Its recent sale also suggests the market has recently tested and confirmed its price point.
Frequently Asked Questions
1. Is the house unusually small?
Yes. At 600 sqft, the living area is notably compact, ranking in the top 1% for smallest homes in Winnipeg. The renovated basement provides crucial additional space.
2. What does the lot size mean for me?
At over 5,000 sqft, the lot is significantly larger than the house itself. This offers rare potential in an urban setting for private outdoor space, gardening, storage, or future additions, subject to zoning.
3. How does the recent sale price relate to the asking price?
The property sold for $150,000 in February 2024. Any current listing would likely be priced close to this recent market value, which is also near its $160,000 assessed value, indicating a stable and transparent valuation.
4. What is the neighbourhood like?
It's in the St. John's area of Winnipeg. The rankings show the property performs well within its immediate street and neighbourhood context, particularly for lot size, suggesting it's a solid holding within that community.
5. Who would this property not suit?
It would not suit buyers needing substantial above-ground living space, multiple large bedrooms, or those who prefer a modern, low-maintenance home without the character and considerations of a 104-year-old structure.