Property Overview: 896 Lipton Street, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home in Daniel McIntyre, built in 1942. With 714 sqft of living space, the house itself is smaller than most in the area, but it sits on a notably larger-than-average lot of 3,370 sqft for the neighbourhood. A key feature is its renovated basement, adding functional space, and it includes a detached garage. The home’s assessed value is modest compared to the city-wide average, but is typical for its immediate street and area.
The primary appeal lies in its efficient use of space and its lot potential. It suits a first-time buyer, an investor, or someone looking to downsize without sacrificing outdoor space. The renovated basement adds immediate utility, while the generous lot offers future possibilities like gardening, expansion, or simply more privacy than nearby properties. It represents an entry point into a central neighbourhood where the value is anchored more in the land than the structure, appealing to those who see potential in the property itself.
Frequently Asked Questions
1. Is the house in good condition?
While the listing notes a renovated basement, the condition of the main floor and major systems (roof, wiring, plumbing) in a home built in 1942 should be verified through a professional home inspection.
2. Why is the assessed value so much lower than the city average?
The assessed value reflects the property's characteristics relative to its local market. Here, the smaller living area and the neighbourhood's pricing context result in a lower assessment than newer or larger homes in broader Winnipeg.
3. What are the real costs beyond the purchase price?
Property taxes will be based on the assessed value, which is relatively low. However, buyers should budget for typical maintenance of an older home and potential updates to bring the main living space in line with the renovated basement.
4. How does the lot size benefit me?
The larger lot provides valuable outdoor space uncommon for the area, which can enhance livability and may offer future redevelopment or landscaping options not available with standard-sized lots.
5. What is the neighbourhood like?
Daniel McIntyre is a mature, central neighbourhood. The proximity to nearby properties, as indicated by the addresses listed, suggests a closely built streetscape. Prospective buyers should visit at different times to assess noise, parking, and overall community feel.