Property Overview
This home at 370 Des Meurons Street in Central St. Boniface is a character property that presents a clear value proposition centered on its generous living space and location, balanced against its age and lot size. Built in 1911, it is a one-and-three-quarter storey home with 1,438 sqft of living area, which is notably above average for its immediate street and neighbourhood. It sits on a 2,099 sqft lot, which is compact relative to most area homes. The property last sold in August 2021 for $230,000 and carries a current assessed value significantly below the citywide average. It features a basement that has not been renovated and does not include a garage or pool.
Key Characteristics & Appeal
The primary appeal of this property lies in its above-average interior space within a historic and established Winnipeg neighbourhood. It suits a practical buyer who values square footage and character over a large yard or modern construction. This could be a first-time homebuyer or an investor looking for a foothold in St. Boniface, prepared to take on a home that requires updates. The very low assessed value compared to its recent sale price suggests a potential value opportunity, but it also highlights the significant work likely needed, from the unrenovated basement to general updates for a 115-year-old structure. A thoughtful perspective is that the compact lot, while below average, translates to lower exterior maintenance—a potential upside for those not seeking extensive gardening or yard work. Its appeal is decidedly for the hands-on or visionary buyer, not for someone seeking a turn-key or modern suburban layout.
Frequently Asked Questions
1. Why is the assessed value so much lower than the 2021 sale price?
Municipal assessed value for taxation purposes often lags behind market sale prices and is calculated using a different methodology. This discrepancy can indicate the property was purchased at a market premium, or that significant changes affecting value have occurred since the last assessment period.
2. What does "one & 3/4 storey" mean for the layout?
This style typically features a main floor and a second floor where the ceilings slope with the roofline, creating full-height rooms in the center and potentially limited headspace near the exterior walls. It offers more character and space than a bungalow but with a different feel than a full two-storey home.
3. Given the small lot size, is there room for expansion or adding a garage?
With a lot size of 2,099 sqft, space for additions or a detached garage is extremely limited and would be subject to strict zoning bylaws, setback requirements, and lot coverage limits. Any expansion plans would require careful review with the City.
4. What are the implications of a basement that is "not renovated"?
This typically means the basement is in a rough, unfinished, or utility-only state. It may have concrete walls and floors, exposed mechanical systems, and require significant investment to become livable space. It's crucial to investigate for moisture issues, foundation integrity, and the adequacy of insulation.
5. How does the property's age (1911) affect insurance and renovation plans?
Homes of this age may have outdated electrical, plumbing, and insulation systems, which can increase insurance premiums and require modernization for safety and efficiency. Renovations often uncover unexpected issues, so budgets should include a significant contingency. However, they also offer classic architectural details rarely found in newer builds.