Property Overview
This is a substantial, historic two-storey home on Main Street in Winnipeg's Civic Centre neighbourhood. Its primary appeal lies in its exceptionally generous living space of 3,920 sq ft, which places it in the top 1% of homes citywide for size. Built in 1901, the property features a detached garage and a full, unrenovated basement, presenting a classic canvas. The lot size is more modest relative to the large home footprint. Its most recent sale was in October 2020 for $430,000, while its current assessed value is notably lower at $38,100.
This property would suit a specific buyer: someone seeking a historic character home with immense interior space for a large family, a live-work setup, or multi-generational living. It is a project-ready property, ideal for a buyer with vision, renovation plans, and the budget to modernize systems and finishes while preserving its historic bones. The urban Civic Centre location offers central convenience but may not appeal to those seeking suburban quiet or a move-in-ready home.
Frequently Asked Questions
1. Why is there such a large gap between the 2020 sale price ($430k) and the current assessed value ($38.1k)?
Assessed value for tax purposes is not the same as market value. This significant difference likely reflects the property's classification (it may be assessed as a different type of property) or specific municipal assessment formulas, not its potential selling price on the open market.
2. What does "basement, not renovated" imply?
This indicates the basement is unfinished or in its original state. Buyers should budget for potential updates to foundational elements, moisture control, insulation, and electrical systems before considering any finishing for living space.
3. The home is in the top 1% for size citywide but average for assessed value in the area. What does this mean?
This highlights the property's unique profile. It offers rare interior volume, but its value is tempered by factors like its age, the need for updates, its specific location on Main Street, and the smaller lot size for such a large home. It represents a different kind of value proposition than a standard modern family home.
4. Is the older year of construction (1901) a concern?
It is both a key feature and a consideration. It offers classic architectural character and solid craftsmanship but requires a thorough inspection for century-old plumbing, wiring, insulation, and the foundation. Renovation plans must respect potential heritage considerations.
5. Who would this home not be suitable for?
It is likely not a fit for first-time buyers, those seeking a low-maintenance or turn-key property, or anyone uncomfortable with a major renovation project. The scale of the home also means higher utility and maintenance costs, even before renovations are undertaken.