Property Overview
This one-storey home on Lindsay Street in Central River Heights is a practical property with a renovated basement and a detached garage. Built in 1956, it sits on a 4,800 sqft lot. With 1,075 sqft of living space and an assessed value of $38,500, it presents as a more modestly scaled option within its desirable neighbourhood.
Key Characteristics & Appeal
The primary appeal of this home lies in its location within the well-established Central River Heights area, combined with its efficient footprint. The renovated basement adds valuable finished space, while the detached garage offers flexibility. The lot size, while below average for the immediate street and neighbourhood, is still generous and represents a city-wide average, providing good outdoor potential.
This property would suit a first-time buyer or a downsizer seeking entry into a prime neighbourhood without the premium price tag of a larger home. It’s also a sensible choice for an investor or handy buyer looking for a solid foundation in a stable area, where value is driven more by location than by the size or newness of the structure itself. A thoughtful perspective is that its "below average" metrics for the area on points like lot and living space are precisely what make it an accessible opportunity in an otherwise high-demand community.
Frequently Asked Questions
1. Is the assessed value the same as the market value?
No, the assessed value (listed as $38.50k) is for municipal tax purposes. The recent sale price of $38.10k in May 2023 is a closer indicator of market value at that time, but current market conditions would determine today's price.
2. How does the lot size compare practically?
At 4,800 sqft, the lot is smaller than many in Central River Heights but is still a good size for a garden, patio, or play area. It’s roughly average when compared to the entire city.
3. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finish or rooms. This is a key detail to clarify with the seller or agent regarding the quality, layout, and whether it includes legal egress.
4. Given the age, what should I be aware of?
The home was built in 1956. While this is actually newer than many on its street, a pre-purchase inspection is essential to evaluate the condition of major systems like plumbing, electrical, and the foundation, which would be typical for a home of this era.
5. Why is there such a large gap between this home's assessed value and the city-wide average?
The city-wide average assessed value (shown as ~$390k) includes all property types across Winnipeg. The more relevant comparisons are the local averages for similar homes on Lindsay Street ($42.40k) and in Central River Heights ($44.30k), to which this property is much closer.