356 Aldine Street

Property Summary: 356 Aldine Street, Winnipeg

Key Characteristics & Appeal

This home is a classic one-storey character property built in 1920, situated on a notably large lot of over 6,300 sqft in the Booth neighbourhood. Its primary appeal lies in its land value and location. The lot size ranks in the top 10% for its street, offering rare potential for expansion, gardening, or outdoor space in the city. While the living area is compact at 594 sqft and the basement is unrenovated, the property’s assessed value and recent sale price are consistently in the top tiers for the area, indicating a solid foundation and desirable location.

The home would suit a buyer looking for a land-value opportunity—someone comfortable with a project, whether that’s updating the existing footprint or planning a future addition. It’s also a potential match for a minimalist or first-time buyer seeking an affordable entry into the market with the long-term asset of a large lot, rather than a move-in-ready home. A less obvious perspective is its appeal to a multi-generational household; the sizable lot provides room for a separate suite or accessory building, subject to zoning.

Frequently Asked Questions

1. What does "basement, not renovated" typically mean for a house of this age?
It generally indicates the basement is in original or functional condition, with unfinished spaces for laundry and utilities. Buyers should budget for potential updates to insulation, flooring, or moisture management common to century-old foundations.

2. The living area is small, but the lot is large. What are my options?
The significant lot size is the key feature here. Depending on zoning, future possibilities could include a rear addition, a garden suite, or a detached garage. The current home could serve as a starter footprint while you plan and save for expansion.

3. How does the assessed value compare to the recent sale price?
The assessed value is $22,700, while it sold for $230,000 in December 2023. This large discrepancy is normal; municipal assessments for tax purposes often lag far behind current market values, which are determined by buyer demand.

4. The home ranks very low for living area in the neighbourhood. Is that a concern?
It highlights that this is one of the smaller homes in the area, which is reflected in its price point. It’s not a direct concern for livability but underscores that you are purchasing for the land and location, with the house itself being a functional starting point.

5. There's no garage. Can one be built?
Given the lot's size and ranking, there is likely physical space for a detached garage or shed. You would need to verify setback requirements and obtain the necessary permits from the City of Winnipeg before proceeding.