Property Overview
This 1945 one-storey home at 396 De La Morenie Street sits on a 3,837 sqft lot in Winnipeg's Central St. Boniface neighbourhood. With 836 sqft of living space, a renovated basement, and a detached garage, it presents a compact and efficient layout. The home last sold in August 2022 for $320,000, a price point that was around the average for the area at that time. Its current assessed value is notably lower than the sale price, which is common but worth noting.
Key Characteristics & Appeal
The primary appeal of this property lies in its location and lot. Situated in the historic and culturally vibrant St. Boniface, it offers a desirable urban lifestyle. The lot size is generous for the neighbourhood, providing valuable outdoor space that is less common for homes of this vintage. The renovated basement adds functional living area, a significant upgrade for a home built in the 1940s.
A less obvious perspective is its standing among immediate peers. While the living area is modest, the home was built significantly later than most on its street, potentially implying updates to its original construction methods. It suits buyers looking for a character-home neighbourhood without the largest maintenance footprint—ideal for a small household, a first-time buyer seeking a foothold in a prime area, or an investor attracted by the stable rental demand of a central location. Its appeal is practical: a manageable structure on a good lot in a sought-after community.
Frequently Asked Questions
1. Why is the assessed value so much lower than the 2022 sale price?
Municipal property assessments in Manitoba are based on mass appraisal techniques and a specific valuation date, often lagging behind the current market. A sale price reflects what a specific buyer was willing to pay at that time, while the assessment is a standardized valuation for tax purposes.
2. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. A professional inspection is recommended to determine the quality of the renovation, the materials used, and whether it includes legal secondary suites or merely finished living space.
3. How does the smaller living area impact daily life?
At 836 sqft, the above-ground living space is compact. This emphasizes efficient use of the main floor and the renovated basement. Buyers should consider if the layout fits their needs, as the flow and room sizes may differ from more modern, open-concept designs.
4. What are the implications of a detached garage?
A detached garage offers flexibility—it could be used as a workshop or studio without impacting the main house. However, it also means navigating outdoors to access your vehicle, which can be a consideration during Winnipeg winters.
5. The home is older; what should I investigate?
Built in 1945, key checks include the age and condition of major systems like the roof, plumbing, wiring, and heating. The renovation may have updated some, but an inspection is crucial to understand what remains original and plan for potential future updates.