Property Overview: 574 Lipton Street, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home in Daniel McIntyre, built in 1945. With 713 square feet of living space, it is notably smaller than most homes in the area, positioning it as a cozy, low-maintenance option. Its primary appeal lies in its efficient use of space and its attractive financial profile. The home features a renovated basement and a detached garage.
The assessed value is modest at $23,100, which is above average for Daniel McIntyre. This suggests a relatively low property tax burden compared to neighbouring homes, a significant ongoing cost advantage. The lot size is a practical 2,819 sqft, providing adequate outdoor space without being burdensome to maintain.
This property would suit first-time buyers seeking an affordable entry into the market, investors looking for a character home with rental potential, or downsizers wanting a manageable footprint without leaving a central, established neighbourhood. Its charm is functional rather than luxurious, offering a grounded opportunity for those who prioritize financial practicality and location over sheer size.
Frequently Asked Questions
1. Is the house actually livable at only 713 sqft?
Yes, but it requires efficient living. The layout and the renovated basement are key. This size is workable for individuals, couples, or small families comfortable with a minimalist or thoughtfully organized lifestyle.
2. Why is the assessed value so much lower than typical city homes?
The assessed value reflects the home's smaller size and older age compared to the city-wide average. Importantly, within its own neighbourhood of Daniel McIntyre, it ranks in the top 23% for value, indicating it is considered a solid asset in its local context.
3. What does "above average year built" mean for an 81-year-old home?
On Lipton Street and in Daniel McIntyre, many homes are even older, some dating to the early 1900s. Built in 1945, this house is actually among the newer homes in this historic area, which may imply slightly more modern construction materials or design for the neighbourhood.
4. What are the implications of the low property taxes?
A lower assessed value directly translates to lower annual property taxes. This can make monthly homeownership costs significantly more affordable, freeing up budget for renovations, savings, or other expenses.
5. How does the recent sale history affect value?
The home last sold in August 2020 for $20,700. This recent transaction provides a concrete, modern benchmark for its market value, showing a history of being an affordable, transactable property.