Property Overview
This one-and-a-half storey home on Lipton Street presents a straightforward opportunity in Winnipeg's Daniel McIntyre neighbourhood. Built in 1927, its 966 sqft of living space sits around the average for the immediate area, offering a practical footprint. The property includes a detached garage and a full, unrenovated basement, providing functional space and storage. Key data points reveal a nuanced picture: while the home's living area is typical for the street, its assessed value is notably below average for the area, which can signal an entry-level price point. The lot size, at 2,350 sqft, is also modest compared to city-wide averages but is fairly standard for the inner-city neighbourhood. Its appeal lies in its positioning as a potentially affordable character home in an established community, suited for first-time buyers, investors, or those seeking a lower-cost project with a functional layout and the possibility to add value over time. It’s a home that makes sense for a pragmatic buyer who values location and fundamentals over size or modern finishes.
Frequently Asked Questions
What does the below-average assessed value actually mean?
It primarily indicates the city's valuation for tax purposes, which is often based on historical formulas and may not reflect current market prices. However, it can suggest the home is priced below many neighbours, potentially offering a more accessible entry point.
Is the unrenovated basement a major concern?
It depends on your goals. It presents a blank canvas for future finishing, but a professional inspection is crucial to check for foundational integrity, moisture, and updating needs for electrical or plumbing systems.
How does the 1927 build year affect the home?
While older than most on its street, this era of home in Winnipeg often features solid construction. Buyers should budget for potential updates to older components like wiring, plumbing, or windows, while appreciating the character that comes with the age.
Who would this property not be suitable for?
It likely wouldn't suit those seeking a large yard, a modern turn-key home, or extensive square footage. The modest lot and living area, combined with the need for potential updates, cater to a different buyer than a new suburban build.
What is the context of the 2016 sale price?
The prior sale price of $15.5k is a historical data point, but it’s not a reliable indicator of current value. It may have been part of a family transfer or sold in very different condition, and the local market has evolved significantly since then.