Property Overview
776 Lipton Street is a compact, one-storey home in Winnipeg's Daniel McIntyre neighbourhood. Built in 1931, its 809 sqft of living space is modest compared to area averages, but it features a renovated basement. The lot size is also smaller than typical for the street and city. Interestingly, its assessed value ranks above average for the immediate neighbourhood, suggesting it may be well-maintained or updated relative to nearby properties. It last sold in 2020.
Key Characteristics & Appeal
This home’s primary appeal lies in its efficiency and location. It represents a more affordable entry point into the Daniel McIntyre area, which is close to downtown amenities, without the premium price of a larger house. The renovated basement adds functional living space, making the smaller main floor more manageable.
It would suit first-time buyers, downsizers, or investors seeking a lower-maintenance property. The compact size means lower utility costs and less upkeep, which is a practical draw. A less obvious perspective is that a home with a below-average physical footprint but an above-average assessed value for the neighbourhood can indicate a "tight" package where the updates and condition deliver good value for the square footage, rather than sheer size.
Frequently Asked Questions
1. Is this a small house?
Yes. At 809 sqft, the living area is below average for the street, neighbourhood, and city. It’s a compact, efficient layout.
2. What does "above average assessed value for the neighbourhood" mean?
While the house is physically smaller, its official assessed value is higher than many homes in Daniel McIntyre. This often reflects factors like renovations, condition, or desirable lot features, not just size.
3. Has the house been updated?
The listing specifically notes a renovated basement. The age of other updates (roof, wiring, kitchen, etc.) should be verified through a viewing or inspection.
4. Is the lot size a concern?
The land area is smaller than average. This means a smaller yard, which could be a positive for those wanting minimal outdoor maintenance or a drawback for those seeking more private outdoor space.
5. How does the sale history inform the price?
The home sold for $22.8k in 2020. Market conditions have changed since then, so this history provides context for the property’s trajectory, but a current market evaluation is essential to understand its present value.