Property Overview & Key Characteristics
This one-storey home on Lipton Street in St. Matthews is a classic Winnipeg character property, built in 1910. Its primary appeal lies in a combination of established neighbourhood charm, a renovated basement, and a surprisingly generous lot size for the area at 2,366 sqft. With 759 sqft of living space, the house itself is compact, suggesting an efficient layout suitable for individuals, couples, or small families. The detached garage adds practical value.
The home’s data reveals some thoughtful perspectives. While the living area ranks highly within the street, the lot size is even more notable, offering valuable outdoor space or future potential in a mature neighbourhood. Its assessed value is significantly lower than its 2021 sale price of $260k, which is common for older homes but is a point for buyers to discuss with their agent. This property would suit a first-time buyer or downsizer looking for a lower-maintenance, character home with some updated elements (the basement) and who values a larger-than-average yard in a central, established community like St. Matthews.
Frequently Asked Questions
1. What does the ranking data (e.g., "Top 60% in same street") actually mean?
This shows how this property compares to similar listings in the area for that specific metric. For example, "Top 60% for land area" means its lot size is larger than 60% of other lots on the same street, highlighting the yard as a relative strength.
2. Why is there such a difference between the assessed value ($23.7k) and the 2021 sale price ($260k)?
In Manitoba, the assessed value is used for calculating property taxes and is not intended to reflect market value. It is typically much lower. The sale price from 2021 is a far better indicator of its actual market value at that time.
3. The home is over 100 years old. What should I be most concerned about?
While the renovated basement is a positive, potential buyers should prioritize inspections for the foundational structure, the age and condition of major systems (like plumbing and electrical), and the roof. The charm of an older home comes with the responsibility of understanding its maintenance history.
4. How does this location in St. Matthews compare to nearby areas like Wolseley?
St. Matthews offers a similar central, character-home feel, often at a slightly more accessible price point than the highly sought-after Wolseley neighbourhood. It provides a quiet, residential setting while remaining close to amenities, hospitals, and downtown.
5. The living area is modest. Is there room to expand?
The significant lot size relative to the home's footprint is a key feature. It suggests potential for future expansion (like an addition or a large garden/outdoor living space), subject to local zoning bylaws and permit approvals. This is a major point of value for a buyer with long-term plans.