Property Overview
This 1940-built, one-storey home at 438 De La Morenie Street in Central St. Boniface presents a specific and compelling opportunity. Its key appeal lies in the combination of a well-sized, nearly 4,000 sqft lot in a mature, established neighbourhood with a recently renovated basement. The living space is compact at 672 sqft, making this a quintessential "starter home" or a strategic entry point into the St. Boniface area. The property last sold in May 2022 for $300,000, with a current assessed value of $280,000.
Key Characteristics & Ideal Buyer
The home’s primary characteristic is its efficient scale on a generous lot. It suits a first-time buyer, an investor, or someone looking to downsize without sacrificing outdoor space. The renovated basement adds valuable functional space, potentially for a home office, rental suite, or family room. Its appeal is grounded in location and lot value rather than square footage, offering a chance to own a low-maintenance home in a central neighbourhood with the potential for future expansion or landscaping projects. A thoughtful perspective is that this property represents the "land value with a liveable structure" model—the home itself is functional and updated where it counts (the basement), while the true long-term value is tied to its desirable lot in a historic community.
Frequently Asked Questions
1. How does the small living area impact daily life and resale?
The 672 sqft main floor requires efficient use of space and likely an open-concept layout. For a single person, couple, or small family using the renovated basement, it can be comfortable. It may appeal to a narrower pool of future buyers, but this is balanced by the attractive lot size and neighbourhood.
2. What does the "renovated basement" entail?
Specific finishes and the scope of renovation aren't detailed here. A crucial next step would be to determine if it was a cosmetic update or a full structural renovation, whether it includes a separate entrance, and if it meets local code for legal suite potential.
3. The lot is large for the area. What are the possibilities?
The nearly 4,000 sqft lot is significantly larger than many city-wide properties. This allows for substantial gardening, outdoor living space, or future additions like a garage, workshop, or home extension, subject to local zoning bylaws.
4. How does the 2022 sale price compare to the current assessment?
The home sold for $300,000 in 2022 and is now assessed at $280,000. This difference isn't unusual and reflects market adjustments. The assessment provides a baseline for property taxes, while the market sale price will be determined by current conditions, the updated basement, and buyer demand.
5. What is the character of this specific part of De La Morenie Street?
The listing shows several nearby properties on the same street, suggesting a tight-knit, established block. Viewing the property at different times of day is recommended to understand traffic, noise, and neighbour dynamics, which greatly influence the feel of a home on a central street.