Property Overview
This is a modest, one-storey home built in 1905 on a standard city lot in Central St. Boniface. Its key characteristics are its historical roots, compact 676 sqft living area, and an unrenovated basement. The property includes a detached garage. Data shows it sits well below area averages for lot size, living space, and year built, which is reflected in its notably low municipal assessed value.
Section 1: Key Characteristics & Appeal
The primary appeal of this property lies in its land value and location within a well-established neighbourhood, presenting a clear opportunity for those with a vision beyond its current state. Its very low assessed value and sale history suggest it is a candidate for significant renovation or complete redevelopment. The charm is not in its existing condition but in its potential.
- Key Characteristics: A 121-year-old character home with minimal updated living space. The lot, while smaller than area averages, provides the essential canvas for infill or expansion. The unrenovated basement and detached garage offer functional potential.
- Where the Appeal Lies: For the right buyer, the appeal is foundational: a priced-entry point into St. Boniface. It suits a specific, hands-on buyer profile rather than someone seeking a move-in-ready home.
- Ideal Buyer Profile: This property would suit an investor or homeowner with renovation experience, looking for a project to rebuild or extensively remodel. It could also appeal to someone interested in building a new, modestly scaled home on an existing urban lot without the premium price of vacant land. It is not suited for buyers seeking convenience or established finishes.
Section 2: Frequently Asked Questions
1. Is this a "tear-down" property?
While the home is historically old and very small by modern standards, that decision depends on a buyer's goals and budget. Its structure presents a renovation project, but the value is likely anchored in the land, making redevelopment a strong consideration.
2. Why is the assessed value so much lower than typical Winnipeg homes?
The assessment reflects the property's current state—its age, very small living area, and lack of renovation relative to other homes. It is assessed based on its existing condition and utility, not its potential after investment.
3. What are the less obvious considerations for a property of this age?
Beyond typical renovation costs, consider the potential for heritage character elements that might be worth preserving. Also, investigate the feasibility and cost of bringing all systems (wiring, plumbing, insulation) up to current standards, which can be a significant undertaking in a home from this era.
4. How does the lot size impact future plans?
At just over 3,000 sqft, the lot is smaller than many in the area. This will directly influence the possible footprint of any addition or new build, and may require creative design solutions to maximize outdoor space and comply with zoning setback requirements.
5. The last sale price was low; does that indicate problems?
The prior sale price aligns with the low assessment and the property's project-ready condition. It primarily indicates that the market valued it as a foundation for investment rather than a conventional home. Standard due diligence, including inspections, is still highly recommended to understand the full scope of work needed.