Property Overview: 863 Lipton Street, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home in Daniel McIntyre is defined by its practical proportions and its position as a classic Winnipeg character home. Built in 1914, it offers 1,312 sqft of living space, which is notably above average for both the immediate street and the neighbourhood. The lot size is compact at 2,341 sqft, typical for the area, emphasizing a low-maintenance yard. A key point of appeal is the home’s value proposition: its assessed value sits significantly below city-wide averages, presenting a clear entry point into the market. The basement is noted as unrenovated, indicating potential for future customization or necessary updates.
Its charm lies in its established neighbourhood setting and the efficient use of space for a family or couple. It would suit a first-time buyer looking for a solid "bones" home to gradually personalize, or an investor seeking a rental property in a central location. A less obvious perspective is that its older construction date (1914) actually ranks above average for the street and area, meaning it fits the genuine historic fabric of Daniel McIntyre, which can be a lasting value driver in a city rich with heritage neighbourhoods.
Section 2: Frequently Asked Questions
1. Is the low assessed value a red flag?
Not necessarily. It primarily reflects the city's assessment formula and recent sale prices in the area. It indicates an accessible purchase price but should be paired with a thorough inspection to understand the home's condition.
2. What does "basement, not renovated" imply?
It means the lower level is in functional, likely original condition. Buyers should budget for potential updates to insulation, flooring, or moisture management, but it also offers a blank canvas for finishing to suit one's needs.
3. How does the lot size impact living here?
The lot is smaller than the city average but standard for the core neighbourhood. This means less yard upkeep, which is a benefit for busy owners, but limits possibilities for large additions or extensive outdoor living spaces.
4. The home sold for $160k in 2020 and $21.6k in 2022. Why the huge difference?
The 2022 sale price is atypical and likely represents a non-arms-length transaction, such as between family members. The 2020 sale price is a more reliable indicator of the home's recent market value.
5. What are the less obvious benefits of an older home like this?
Homes from this era often feature higher-quality lumber, plaster walls, and distinctive architectural details rarely found in new builds. Its established placement in the neighbourhood also often means mature trees and a settled, cohesive streetscape.