Property Overview & Key Characteristics
This 1912 one-and-three-quarter storey home in St. Matthews presents a classic Winnipeg character property with solid fundamentals. Its key appeal lies in its generous 2,356 sqft lot, which is larger than most in the city (ranking in the top 3% for Winnipeg), offering valuable outdoor space and potential in a mature neighbourhood. The 1,240 sqft living area is comfortably sized, ranking above average for both the street and neighbourhood.
The home suits a practical buyer looking for a project or a long-term hold. It’s ideal for someone who values a larger lot over a move-in-ready condition, as the basement is noted as unrenovated and there is no garage. The assessed value is notably low compared to similar-sized homes in the area, which could indicate an opportunity for equity growth through updates, or simply a lower property tax base. It’s a straightforward property for a buyer who sees potential in the land and the classic structure, without the premium price of a fully updated home.
Frequently Asked Questions
1. What does "one & 3/4 storey" mean for this home?
This is a common Winnipeg architectural style, typically featuring a main floor, a second floor with sloped ceilings (often in the bedrooms under the roofline), and sometimes a small top floor or attic space. It offers more character and space than a true bungalow but often with a smaller footprint than a full two-storey.
2. The assessed value seems low compared to nearby homes. Why is that?
Municipal assessed value is for tax purposes and doesn't always equal market value. A lower assessment can be due to the home's condition (like an unrenovated basement), specific features (lack of garage), or the timing of the assessment. It often results in lower property taxes, which can be a financial advantage.
3. What is the St. Matthews neighbourhood like?
St. Matthews is a central, established neighbourhood near the Health Sciences Centre. It features a mix of well-kept character homes and more modest properties, with convenient access to downtown, Osborne Village, and major routes. It’s a practical, no-frills area with a strong sense of community.
4. Is the lack of a garage a major drawback?
For some buyers, yes. However, on-street parking is typical here, and the large lot may offer space to build a garage or shed in the future, subject to city bylaws. This is a common trade-off in older, central neighbourhoods.
5. How significant is the "unrenovated basement"?
This indicates the basement is in original or functional condition but not modernized. It likely has foundational plumbing and electrical systems and may be unfinished or partially finished. It represents both a cost-saving on the purchase price and a clear opportunity (or future expense) for the buyer to customize or improve.