Property Overview: 401 Des Meurons Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a modest, one-storey home built in 1945 on a generous lot in Central St. Boniface. Its key characteristic is the significant disparity between its small living footprint (728 sq ft) and its larger-than-average land area (4,654 sq ft). The home itself is compact and dated, featuring an unrenovated basement and a detached garage. Its appeal lies squarely in its land and location. The lot size offers valuable potential for expansion, gardening, or outdoor living in a well-established neighbourhood. With a very low assessed value, it presents as an entry point into the market or a strategic land purchase. This property would best suit a buyer looking for a project—whether that’s a gradual live-in renovation, a complete rebuild, or a long-term land investment. It’s less suited for those seeking immediate move-in condition or ample interior space.
Section 2: Frequently Asked Questions
1. Is this a teardown property?
While the home is small and older, it is a functioning house. The decision to renovate or rebuild would depend on the buyer's goals, budget, and the specific condition of the structure, which should be verified by a professional inspection.
2. Why is the assessed value so much lower than the citywide average?
The assessed value reflects the property's current state—a small, older home with unrenovated spaces. The value is primarily in the land, not the existing improvements, which is typical for properties with redevelopment potential.
3. What can I do with such a large lot relative to the house?
The lot offers several options: creating extensive private outdoor space, adding a significant addition to the existing home, or potentially subdividing the lot, subject to municipal zoning and approval.
4. How does the living area compare to nearby homes?
The living area is notably smaller than most in the area. Comparable homes on the same street average about 1,196 sq ft, making this one of the more compact properties, which is a key factor in its lower price point.
5. The home sold in 2020 for $26,900. What does that indicate?
The recent sale at a price closely aligned with its assessed value suggests it was treated as a land-value transaction or a functional starter home. It underscores the property's status as a base for future investment rather than a premium, updated residence.