58 East Gate

Property Overview & Appeal

This home at 58 East Gate is a distinctive property in Winnipeg's historic Armstrong Point neighbourhood. Its key characteristic is its heritage, being built in 1895, which is reflected in its classic two-and-a-half-storey design. With a generous 6,010 sqft lot, it sits on land that ranks in the top tier for size within its immediate area. The home itself offers 2,100 sqft of living space and features a renovated basement and a detached garage.

The appeal lies in a unique combination of established prestige and tangible value. It's situated on a street where properties consistently rank highly for assessed value, suggesting a stable and desirable location. While it's a historic home, the updated basement indicates some modernization. This property would best suit a buyer who appreciates character, established neighbourhoods, and the cachet of a historic address, but who may also be interested in a home that isn't a full restoration project. It's for someone who values space and permanence over brand-new construction, and who understands that owning a piece of local history comes with its own specific considerations and rewards.

Frequently Asked Questions

1. What does the high ranking for "Year Built" mean?
The data shows the home's 1895 build date ranks in the top 3% for its street and neighbourhood, meaning it is one of the older homes in the area. In a historic neighbourhood like Armstrong Point, this isn't a drawback but an indicator of authentic heritage and established streetscape.

2. The assessed value is significantly higher than the last sale price. Why?
The current assessed value is $470k, while it last sold for $430k in May 2022. This increase likely reflects market adjustments, any permitted improvements made (like the basement renovation), and the city's assessment model. It's important to get a current market evaluation to understand today's value.

3. How does the lot size compare practically?
At over 6,000 sqft, the lot is well above average for the area. This offers valuable outdoor space for gardens, entertaining, or future additions, and is a key contributor to the property's assessed value ranking so highly on its street.

4. What should I consider with a home from 1895?
While the renovated basement is a plus, a home of this age requires a thorough inspection. Key focuses should be the foundation, original plumbing and electrical systems (which may have been updated in parts), the roof, and the overall envelope for energy efficiency. Budgeting for ongoing maintenance is typical.

5. The data shows similar assessed values in newer neighbourhoods. What's the trade-off?
The listing shows other homes with a $470k assessment in newer areas like Elmhurst. The trade-off is character and location versus modernity. This home offers historic charm in a central, prestigious neighbourhood, while a similarly priced newer home might offer more modern layouts and systems but in a different setting. It's a matter of personal priority.