Property Overview
This is a compact, one-storey home built in 1928 on a standard city lot in Central St. Boniface. Its key characteristic is its modest scale, with a living area significantly smaller than most area homes. The property features a detached garage and a renovated basement, adding functional space. Its appeal lies in its affordability and location within a historic, established neighbourhood, offering a lower entry point into the market. The home would suit first-time buyers, investors, or downsizers seeking a manageable footprint with renovation potential, or those prioritizing lot location over the size of the existing structure. A thoughtful perspective is recognizing this as a "value of land" proposition; the lot holds inherent worth in a desirable area, while the house itself presents an opportunity for expansion or redevelopment over time, subject to local regulations.
Frequently Asked Questions
1. Is the living area of 570 sqft accurate for the entire home?
Yes, the data indicates the above-ground living area is approximately 570 square feet, which is notably compact. The renovated basement provides additional usable space, but is not counted in the official living area metric.
2. Why is the assessed value relatively low?
The assessed value reflects the property's smaller size and older age compared to city and neighbourhood averages. It is primarily driven by the land value in St. Boniface, with the building itself contributing a smaller portion of the total assessment.
3. What does the "below average" ranking for land area mean?
While the lot is a standard city size, the ranking shows it is slightly smaller than many lots on the same street and in the wider area. However, at over 2,700 sqft, it still provides good outdoor space and is typical for the core neighbourhood.
4. Is the sale price history indicative of its current market value?
The last recorded sale was in 2021 for $22,500. This historical price is not a reliable indicator of current market value, which would be influenced by present market conditions, the state of the renovation, and recent comparable sales.
5. Are the nearby and similarly-valued properties good comparables?
The listed nearby properties are geographic comparables, showing the character of the immediate block. The properties with similar assessed values are financial comparables from across the city, but may be in different neighbourhoods and not directly comparable in terms of market price or features.