Property Overview: 854 Lipton Street, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home, built in 1912, presents a practical opportunity in Winnipeg's Daniel McIntyre neighbourhood. With 1,204 sqft of living space and a renovated basement, it offers a functional layout typical of its era. A key feature is the detached garage, a valuable asset in this urban setting.
The home’s primary appeal lies in its strong position within its immediate context. While its lot size is modest, its assessed value ranks well above average for Daniel McIntyre, suggesting it is viewed favorably compared to neighbouring properties. This indicates a solid foundation of value in a mature, established community. The recent sale in July 2024 at $310,000 reflects active market interest.
This property would suit a first-time homebuyer or an investor looking for a character home with some updates in a central location. It’s for those who appreciate a neighbourhood with history and value practicality over expansive square footage. A thoughtful perspective for buyers is to consider the renovated basement as immediate livable space, potentially offsetting the smaller main floor area. The above-average assessment for the area could also signal lower relative property taxes compared to a similarly priced home in a different neighbourhood.
Section 2: Frequently Asked Questions
1. How does the lot size impact the property?
The land area is smaller than average for the street, neighbourhood, and city. This means less yard maintenance but also limited potential for expansions or additions. The focus here is on the home itself and its interior space.
2. What does the assessed value tell me?
The assessment ($25.10k for taxation purposes) is significantly above the neighbourhood average. This often correlates with improvements made to the property (like the renovated basement) and can be a marker of its condition relative to others nearby, though it does not directly predict market sale price.
3. Is the age of the home (1912) a concern?
The home is older than most in Winnipeg but is typical for Daniel McIntyre and Lipton Street. Buyers should budget for maintenance consistent with a century-old structure and ensure inspections cover foundational, electrical, and plumbing systems common to this vintage.
4. How does the recent sale price compare?
The $310,000 sale in July 2024 is substantially higher than the previous sale in 2017 ($23.30k), reflecting strong market appreciation. It also sits well above the average assessed value for comparable homes in the immediate area, indicating buyers paid a premium for the specific attributes of this property.
5. Who might this property not suit?
It may not suit those seeking a large yard, ultra-modern open-concept layouts, or a home that requires no ongoing updates. The smaller lot and early-1900s footprint prioritize efficient use of space over expansiveness.