Property Overview
This is a classic, renovated one-storey home on a generous lot in Central St. Boniface. Built in 1946, its key appeal lies in its balance of established neighbourhood character and practical updates. The home features a renovated basement and a detached garage, sitting on a land parcel that is notably larger than many city lots. With a living area of 1,010 sqft, it offers a comfortable footprint for a smaller household. The property last sold in August 2020 for $250,000, which was below the average sale price for comparable homes in the area at that time.
Its primary appeal is for the value-conscious buyer or young family seeking entry into a mature, well-located neighbourhood without a premium price tag. The renovated basement adds flexible living space, while the sizable lot presents opportunities for gardening, expansion, or simply enjoying more outdoor privacy than is typical. It would suit a first-time buyer, a downsizer looking for single-level living, or an investor attracted by the below-average purchase price for the area and the potential of the lot.
Frequently Asked Questions
1. Is the renovation on the basement a full legal suite?
The details provided state the basement is "renovated," but do not specify if it is a legal, separate suite. This is a crucial point to verify with the listing agent and city permits, as it impacts rental potential and insurance.
2. How does the below-average past sale price affect current value?
The home sold below area averages in 2020. This could indicate a value opportunity, but it also necessitates a particularly thorough inspection and review of past listings to understand the reasons, ensuring there are no underlying issues affecting value.
3. What are the implications of an 80-year-old home, even with renovations?
While the basement is updated, the core structure is from 1946. Buyers should budget for and inspect age-related systems: the roof, original plumbing and electrical, foundation, and insulation standards, which may need attention despite recent renovations.
4. The lot is large for the area. What are the restrictions or opportunities?
The 4,712 sqft lot is a significant asset. Buyers should check municipal zoning bylaws to understand if the lot could be subdivided (unlikely but possible) or what the rules are for adding structures like a shed, expanding the home, or building a new garage.
5. How does the assessed value relate to the expected market price?
The assessed value for tax purposes is $30,200, which is dramatically lower than the 2020 sale price of $250,000. This is normal, as municipal assessments are not market appraisals. Market price will be determined by recent sales of similar homes in St. Boniface, not the tax assessment.