Property Overview
This 792 sqft one-storey home at 870 Lipton Street in Winnipeg's Daniel McIntyre neighbourhood presents a specific and practical value proposition. Its key appeal lies in its renovated basement and its position as a more affordable, lower-maintenance entry point into the housing market. Built in 1925, the home sits on a modest 2,341 sqft lot.
The data reveals a property of contrasts. Its living area is notably smaller than most comparable homes locally and city-wide, suggesting a compact, efficient layout. However, its assessed value is strong within Daniel McIntyre, ranking in the top 10% of the neighbourhood. This indicates that the renovations and lot location are recognized as adding significant value relative to the area, even on a smaller footprint. It last sold in 2020 for $23.4k.
This home would best suit a first-time buyer, an investor, or someone looking to downsize, prioritizing a lower purchase price and property taxes over interior space. Its manageable size and updated basement offer a liveable template without the scale of a major project, appealing to those who value simplicity and location over square footage.
Frequently Asked Questions
1. Is this a small house?
Yes. At 792 sqft of living area, it is significantly smaller than the average home in Daniel McIntyre (approx. 1,142 sqft) and Winnipeg overall. This makes for efficient, low-maintenance living but requires thoughtful use of space.
2. Why is the assessed value relatively high for the neighbourhood?
While the home is compact, its assessed value ranks in the top 10% for Daniel McIntyre. This is likely due to the renovated basement, which adds functional living space, and the property's specific location on Lipton Street. It suggests the upgrades and spot are considered premium for the area.
3. What does the sale history indicate?
The home sold in May 2020 for $23,400. The current assessed value is $26,200. This recent transaction provides a clear, modern benchmark for its market value, showing a stable assessment in the years since.
4. Who might this property not suit?
It may not be ideal for families needing multiple bedrooms or dedicated workspaces, or for buyers who prioritize large private outdoor areas, as the lot is also below average in size for the street and neighbourhood.
5. What is the immediate neighbourhood like?
The listing shows several directly adjacent properties on Lipton Street (e.g., 858, 860, 872 Lipton), indicating a closely built, established streetscape typical of central Winnipeg neighbourhoods. This offers a traditional community feel but minimal lot privacy.