Property Overview: 657 Lipton Street, Winnipeg
Key Characteristics & Appeal
This is a 1,148 sqft, one-and-three-quarter storey home built in 1925 on a 2,348 sqft lot in the Daniel McIntyre neighbourhood. Its key appeal lies in its established character and its position as a relatively average property within its immediate context, which can signal stability and predictability. The home is not renovated and lacks a garage or pool, presenting a straightforward canvas.
The data reveals a property of contrasts. Its living space is consistently around the average for its street, neighbourhood, and even city-wide, making it a practical size for a small family or couple. Notably, it was built later than many homes on its street and in Daniel McIntyre, which can sometimes mean slightly updated original features or construction methods. However, its assessed value is significantly below the city-wide average, while its lot size is quite compact compared to most Winnipeg homes.
This property would suit a value-conscious buyer looking for a character home in a central neighbourhood, who views the unfinished basement and lack of garage as an opportunity rather than a drawback. It’s a candidate for a gradual, sweat-equity renovation. It may also appeal to an investor seeking a rental property with a stable assessment history in a well-established area.
Frequently Asked Questions
1. Is the assessed value the same as the market value?
No, the assessed value (listed as $21,300) is for municipal tax purposes. The recent sale in August 2023 for $22,200 is a closer indicator of market value, but current market conditions will determine the actual listing and sale price.
2. What does "one-and-three-quarter storey" mean?
This is a common Winnipeg architectural style. It typically means the second floor has sloped ceilings (following the roof line) and potentially dormer windows, creating full but cozier upper rooms compared to a full two-storey home.
3. The lot seems small. Is there room for expansion or a garage?
At 2,348 sqft, the lot is below average in size for the city. Any future addition or the construction of a garage would require careful planning and would need to comply with strict municipal zoning bylaws regarding setbacks and lot coverage.
4. How does the "unrenovated" basement affect the home?
This indicates the basement is in its original or largely untouched condition. Buyers should budget for potential updates to flooring, walls, and utilities, and a thorough inspection is essential to check for foundational or moisture issues common in century-old homes.
5. The home is older. What should I prioritize in an inspection?
Given its age, focus on the foundation, roof, electrical wiring (likely needing an update if still original), plumbing (especially galvanized pipes), and the heating system. The inspection will be crucial to understand the true condition behind the character.