Property Overview
This is a compact, one-storey home built in 1904 on a standard city lot in Central St. Boniface. Its key appeal lies in its position as a highly affordable entry point into a historic and well-located Winnipeg neighbourhood. The home presents a straightforward renovation project, with an unrenovated basement and modest living space of 672 sqft. The very low assessed value and past sale price reflect its condition and size, not the land's potential. This property is best suited for a hands-on buyer looking for a footprint in a established area—an investor, a first-time buyer willing to renovate over time, or someone seeking a minimal living space without a large mortgage.
Frequently Asked Questions
1. What is the true value here?
The value is primarily in the land and location. The structure itself is small and older, so the price is largely for the lot in a central, historic neighbourhood. It's a play on future potential rather than current amenities.
2. Is this a teardown?
While the home is small and dated, it appears to be a functional structure. It could be a full teardown for a new build, but it may also be a viable candidate for a careful renovation or expansion, given the existing foundation and services.
3. What are the major immediate costs to consider?
Beyond any desired cosmetic updates, a buyer should budget for essential systems updates (like wiring, plumbing, or heating common in a 1904 home) and plan for the cost of developing the unrenovated basement, if needed for additional space.
4. How does the lot size compare?
At just under 3,000 sqft, the lot is smaller than many in the area and across Winnipeg. This means lower maintenance but also limits options for large additions or detached structures.
5. Why is the assessed value so much lower than the citywide average?
The assessed value is based on the property's current state—a very small, older home with unrenovated spaces. It is not directly comparable to the average Winnipeg home, which is larger, newer, and often includes modern finishes and amenities.