Property Overview: 468 Langevin Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-three-quarter storey home, built in 1912, is situated on a standard city lot in Central St. Boniface. Its key characteristics include a detached garage and a basement that is present but not renovated. With approximately 1,016 square feet of living space, it offers a compact footprint.
The primary appeal of this property lies in its location and its value as a foundational investment. It sits in a historic and established neighbourhood, offering the charm and convenience of St. Boniface. The data suggests it is priced accessibly, with both its recent sale price and assessed value consistently below average for the street, neighbourhood, and city. This creates a clear opportunity for a buyer willing to invest sweat equity or capital into updates. The lot size, while smaller than many in the area, is manageable and typical for an inner-city setting.
This home would best suit a practical first-time buyer, an investor looking for a rental property with renovation potential, or a hands-on individual seeking an affordable entry into a desirable neighbourhood. It’s not a move-in-ready showhome but a solid canvas. A less obvious perspective is that its smaller scale and lower operating costs could also appeal to someone looking to downsize into the area without taking on a large, high-maintenance property.
Section 2: Frequently Asked Questions
1. What does "below average" for land and living area really mean for me?
It means the lot and home are more compact than many in the immediate area. This translates to less exterior maintenance and potentially lower utility costs, but also less room for expansion or large gardens compared to some neighbours.
2. The home was built in 1912. What should I be most concerned about?
While charm is a given, key focus areas for an inspection would be the foundation, the electrical and plumbing systems (which may need updating), and the overall envelope (windows, insulation, roof). The unrenovated basement warrants particular attention for moisture control.
3. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the property’s specific characteristics—its smaller size, age, and unrenovated state—within its market. It’s more informative to compare it to the local St. Boniface average, where it is also below average, highlighting its as-is, value-oriented positioning.
4. Is the detached garage a major benefit?
Yes, especially in an older neighbourhood where street parking can be tight. A detached garage provides secure storage for vehicles and tools, which is a significant practical advantage.
5. The price has remained relatively flat in recent sales. Is this a red flag?
Not necessarily. It indicates a stable, entry-level price point in the market. For a buyer, it suggests the potential for adding value through strategic renovations, as the purchase price isn't inflated by recent speculative trends.