Property Overview: 518 Langevin Street, Winnipeg
Key Characteristics & Appeal
This is a classic two-storey home built in 1908, situated on a notably large lot in Central St. Boniface. Its primary appeal lies in the land itself—at over 6,300 square feet, the property offers significantly more outdoor space than most homes on its street and in the wider neighbourhood. This presents a substantial opportunity for gardening, expansion, or future development, subject to zoning.
The house, with a modest 1,176 sqft of living space and an unrenovated basement, is best viewed as a solid canvas. Its assessed value is well below area averages, which typically indicates a property ripe for modernization and value addition. The detached garage adds practical utility.
This home would suit a specific type of buyer: those with a vision for a renovation or expansion project who are primarily acquiring a prized location and lot size. It’s ideal for a hands-on buyer, an investor looking for long-term value growth through improvement, or someone willing to live in a character home while gradually updating it. The appeal is less about move-in readiness and more about underlying potential and the charm of St. Boniface.
Frequently Asked Questions
1. What does "below average" for assessed value really mean?
It indicates the current municipal assessment for this property is lower than most comparable homes. This often reflects the home’s original condition and unrenovated state, not the market value of the land or the potential value after improvements.
2. Is the large lot size usable for an addition or new build?
While the lot size is a major asset, any structural changes would require consultation with the City of Winnipeg’s planning department to understand zoning bylaws, heritage considerations (given the home's age and area), and setback requirements.
3. How significant is the age of the home (1908)?
It grants character but necessitates diligence. A thorough inspection is crucial to understand the state of foundational, electrical, and plumbing systems. While it requires attention, this age of home also offers architectural details often absent in newer builds.
4. The home sold recently in 2023. What does that suggest?
The recent sale suggests a potentially motivated seller or a rapid change in ownership. Reviewing the listed sale price from that transaction can provide a very current benchmark for the property’s market value, separate from its longer-term assessed value.
5. Are the "average" comparisons for living area a concern?
Not necessarily. The living area is on par with city averages. For the right buyer, the smaller house on a large lot is the opportunity—it allows for thoughtful expansion to create a home that’s both spacious and tailored to modern needs, all while preserving generous outdoor space.