Property Overview
This two-storey home at 1-427 St Jean Baptiste Street in Central St. Boniface presents a compelling mix of modern convenience and established neighbourhood character. Built in 2020, it is a notably new construction in an area dominated by heritage homes, offering a move-in-ready experience without the typical renovation projects of the neighbourhood. Its appeal lies in this balance: a contemporary, low-maintenance home set on a generous, average-sized lot within a historic and vibrant community. The 1,928 sqft living area is spacious for the area, and the home features a renovated basement.
The property suits buyers looking for modern finishes and systems in a walkable, culturally rich neighbourhood. It’s ideal for those who appreciate St. Boniface’s atmosphere but prefer the peace of mind and energy efficiency of a new build. The significant appreciation from its 2020 sale price to its 2022 sale price of $860,000 also suggests it attracts buyers viewing it as a premium, long-term investment in a high-demand location.
Key Details & FAQs
- Key Characteristics: Built in 2020 | 1,928 sqft living area | Renovated basement | 4,737 sqft lot | Two-storey | No garage.
- Neighbourhood: Central St. Boniface.
- Last Sale Price: $860,000 (August 2022).
Frequently Asked Questions
Is this a good investment given its recent sale history?
The home sold for $71,400 in late 2020 and then for $860,000 in August 2022. This indicates very strong short-term appreciation, likely reflecting the value of constructing a new home in the area. Buyers should consult with a local agent to understand current market conditions, but its history shows it is positioned as a premium property.
How does the lack of a garage affect daily living in this location?
While the property has no garage, its location in dense, walkable St. Boniface means many amenities are close by. Buyers should assess on-street parking availability and consider the trade-off: the lot space is used for the home and yard rather than a vehicle shelter, which may align with an urban lifestyle.
Why is the assessed value so much lower than the sale price?
The assessed value for tax purposes ($69,500) is not a market valuation. In Manitoba, assessments are based on a mass appraisal system and can lag significantly behind rapid market changes, especially for a unique, new property in an older neighbourhood.
What does it mean that this is a new home in an old neighbourhood?
You benefit from modern construction standards, floor plans, and efficiency, but your immediate streetscape will consist of older, character homes. This can be a great blend but it’s wise to ensure the home’s style and lot use fit comfortably within the community’s aesthetic.
Are the property taxes likely to increase?
Given the large discrepancy between the recent sale price and the current assessed value, a future property tax reassessment is probable, which would lead to higher taxes. Budgeting for this increase is advisable.