Property Overview
This 1942-built, one-storey home at 487 Langevin Street in Central St. Boniface presents a compact, efficient living space of 744 sqft on a standard city lot. Its key update is a renovated basement, adding valuable functional space. The home sits in a mature neighbourhood, with its assessed value and recent sale price both aligning closely with local averages. The appeal here is grounded in location, practicality, and value. It suits first-time buyers seeking an entry into a well-established area, downsizers looking for a manageable footprint without a condo fee, or investors interested in a property with baseline rental appeal and renovation potential over time. A thoughtful perspective is that while the living area is modest, the lot size is typical for the street, offering outdoor space that many newer infill properties lack. Its "around average" metrics across the board suggest a property that is neither over-improved nor under-valued for its setting, representing a straightforward opportunity in a character neighbourhood.
Frequently Asked Questions
1. How does the living area compare to nearby homes?
At 744 sqft, the living area is notably smaller than most comparable homes on Langevin Street and in Central St. Boniface, ranking in the bottom 10-12% for size in both categories. This indicates a compact main-floor layout.
2. What is the significance of the renovated basement?
The finished basement significantly increases the home's usable living space, which is a crucial upgrade given the smaller-than-average main floor area. It adds flexibility for storage, recreation, or additional living quarters.
3. Is the lot size typical for the area?
Yes. The 3,570 sqft lot is around the average size for Langevin Street itself and is actually slightly larger than the average lot for Central St. Boniface as a whole. This provides standard outdoor space for the neighbourhood.
4. How does the sale price relate to the assessed value?
The home sold for $360,000 in May 2024, which is $30,000 above its $330,000 assessed value. This indicates the market price met or exceeded the city's valuation at the time of sale.
5. What does the "around average" year built mean for a home from 1942?
Built in 1942, this home is actually newer than the average house on its street and in its immediate neighbourhood, where many homes date to the 1930s. Citywide, however, it is older than the average Winnipeg home. This is characteristic of the established St. Boniface area.