Property Summary: 742 Lipton Street, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1912, offering a practical footprint of just over 900 square feet on a standard city lot. Its key appeal lies in its position as an accessible entry point into the Daniel McIntyre neighbourhood. With a recently renovated basement and a detached garage, it presents a liveable, low-maintenance canvas. The home’s assessed value is notably modest, especially when compared to city-wide averages, suggesting a property with very manageable property taxes.
This home would suit first-time buyers or pragmatic investors seeking a straightforward, no-frills property in a central location. It’s for someone who values character and location over sheer size, and who sees potential in a home that is already functional but may benefit from personal updates over time. A less obvious angle is its appeal to those looking to minimize their fixed housing costs, as the low assessment could be a significant long-term saving. It’s not a sprawling family home, but rather a efficient base in a well-established community.
Frequently Asked Questions
1. Why is the assessed value so much lower than typical sale prices in the area?
This is common for older, compact homes. The assessed value is primarily for municipal tax purposes and often lags behind market value, which is driven by buyer demand, recent sales, and the condition of the home.
2. What does the "renovated basement" entail?
The listing notes a renovated basement, but specifics on finish quality, ceiling height, permits, or moisture control are not provided. This would be a key area for a home inspection and questions for the seller.
3. Is the lot size a limitation?
At approximately 2,300 sq. ft., the lot is smaller than the neighbourhood average but is typical for the street. It provides adequate outdoor space for a patio or garden but not for extensive additions. This can be a positive for those wanting less yard maintenance.
4. How does the living area compare for daily life?
At 907 sq. ft., the main floor living space is compact. The floor plan’s efficiency will be crucial. The renovated basement likely provides essential additional space for laundry, storage, or a recreational area, making the overall package more functional.
5. What are the implications of the home’s age (1912)?
A home of this age has character but requires diligent attention. While systems may have been updated, potential buyers should budget for ongoing maintenance and inquire about the age of the roof, wiring, plumbing, and insulation. The charm comes with the responsibility of caring for an older structure.