Property Overview: 138 Middle Gate, Armstrong Point, Winnipeg
Key Characteristics & Appeal
This 1963 four-level split home sits on a large, desirable lot in the established Armstrong Point neighbourhood. Its primary appeal lies in the combination of a generous, mature property (over 8,500 sq ft) and a home with a renovated basement, offering space and potential. The attached garage and above-average living area for the street add practical value.
The property suits two main types of buyers: those seeking a solid foundation in a prime location who are prepared to update the interior over time, and value-driven buyers who prioritize lot size and location over a modern turn-key home. A less obvious angle is its strong investment profile; the data shows it sold significantly above its assessed value in 2022, and its lot size ranks in the top tier for Winnipeg, suggesting the underlying land is a key asset. Its appeal is for the patient buyer who sees the value in the neighbourhood's stature and the lot's potential, rather than a perfectly finished product.
Frequently Asked Questions
1. What does the "ranking" data actually mean for this property?
The rankings compare this home to others on its street, in Armstrong Point, and across Winnipeg. Key takeaways are that it has a much larger lot than most city properties (top 9%), but the house itself is older than most on its street (top 5%). This highlights the classic "land value vs. building condition" dynamic.
2. Is the renovated basement a full, legal suite?
The listing notes a "renovated basement" but does not specify it as a legal secondary suite. Buyers should verify the permits and compliance of the renovation to understand its legal status and potential for rental income.
3. Why is the current assessed value ($74.2k) so much lower than the 2022 sale price ($85.1k)?
Municipal assessed value for tax purposes often lags behind market value and is calculated using a specific formula. The 2022 sale price is a clearer indicator of its recent market worth, and the large gap suggests the assessment may not reflect current market conditions for this specific property.
4. How does the 4-level split layout function in daily life?
This style typically features multiple short flights of stairs separating living zones. It can offer good separation between living and sleeping areas but may be less suitable for those seeking single-level living or with mobility concerns. The flow and room sizes on each split level should be carefully evaluated.
5. What is the character of Armstrong Point like?
Armstrong Point is a historic, sought-after neighbourhood known for its quiet, tree-lined streets, larger lots, and proximity to the Assiniboine River. It offers a serene, established environment close to downtown. The high rankings for lot size and value in the area confirm its premium status within Winnipeg.