Property Overview: 580 Home Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, character home in Winnipeg's Daniel McIntyre neighbourhood, built in 1921. Its key characteristic is a clear value proposition within its immediate area. While the living space (862 sq ft) is modest compared to many city homes, the property holds its own on its street and in the neighbourhood for assessed value and land size. The lot is a notable feature at over 3,000 sq ft, offering above-average outdoor space for the area. A recently renovated basement and a detached garage add practical utility.
The appeal lies in its positioning as an efficient, grounded entry point into the market. It suits a first-time buyer, an investor, or someone seeking a lower-maintenance home without sacrificing yard space. The data suggests you're paying primarily for location, land, and a renovated foundation, rather than square footage. It’s a home for those who prioritize a functional layout and outdoor potential over expansive interior rooms, and who see value in a property that stands well against its direct neighbours.
Section 2: Frequently Asked Questions
1. Is the house too small?
At 862 sq ft, it is a smaller one-storey home. It will suit a single person, a couple, or a small family comfortable with efficient living. The renovated basement provides crucial additional functional space.
2. How does the assessed value compare?
The $220k assessment is around average for Home Street but is above average for the wider Daniel McIntyre neighbourhood. This suggests the property is viewed favorably within its local market context.
3. What is the significance of the lot size?
The 3,023 sq ft lot is a standout, being larger than many on the same street. This offers valuable outdoor space for gardening, entertaining, or future additions like a deck or shed, which is a premium in established neighbourhoods.
4. The home is over 100 years old. What should I consider?
While the core structure is from 1921, the renovated basement indicates some updates. A thorough inspection is essential to understand the condition of major aging components like the roof, plumbing, and electrical systems.
5. How does the last sale price relate to the current assessment?
It sold for $215,000 in mid-2019. The current assessed value of $220k shows relative stability in a changing market, indicating the property has maintained its value in line with area trends over that period.