Property Overview & Key Characteristics
926 Lipton Street is a compact, one-storey home with a renovated basement and a detached garage. Its primary appeal lies in its strong relative value within the immediate Daniel McIntyre neighbourhood. While its 936 sqft living area is modest, especially compared to the city-wide average, it is quite typical for the area. The home stands out with an assessed value that ranks in the top 8% for the neighbourhood, suggesting it is viewed as a solid asset compared to its local peers. Built in 1949, it is a newer construction relative to many surrounding homes.
This property would suit first-time buyers or investors seeking an entry into a central Winnipeg neighbourhood without a premium price tag. It’s a practical choice for those who prioritize location and lot value over square footage, and who are comfortable with a home whose scale is aligned with the area's historic character. The renovated basement adds functional living space, appealing to those needing a suite or flexible family area.
Frequently Asked Questions
1. Is the assessed value a reliable indicator of the likely sale price?
Not directly. The assessed value for tax purposes is often lower than market value. This home's high ranking within the neighbourhood suggests it is in better condition or has more desirable features than many around it, which could support a competitive sale price.
2. How does the home's size compare to others nearby?
Its living area is around the neighbourhood average. You’re trading square footage for a central location. The value here is in the land and the renovated basement, which effectively expands the usable space.
3. What does the "Year Built" ranking mean?
Built in 1949, this home is newer than over 92% of comparable properties in Daniel McIntyre. This is a less obvious advantage, potentially meaning fewer issues with extremely aged infrastructure common in century-old homes.
4. What is the potential here for an investor?
The renovated basement is key, as it may already be suited for a rental suite (subject to zoning and licensing). The strong assessed value for the area indicates a property that is likely maintained and could attract tenants seeking a central location.
5. Are there any red flags in the data?
The land size is significantly below the city-wide average, which is typical for inner-city neighbourhoods but limits expansive outdoor projects. The sale in late 2023 at a price very close to the current assessed value is noteworthy and warrants investigation into the sale conditions at that time.